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Natural Gas futures jumped by more than 3 per cent in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend internationally where prices rose to an eight-week high on hopes that unseasonably cold weather in parts of the US may bolster demand for the heating fuel and ease a supply glut.
The MDA Weather Services predicted below normal temperatures across most of the eastern US from April 9 through April 13.
About 50 per cent of US households use natural gas for heating purposes. At the MCX, Natural Gas futures for April 2016 contract closed at Rs 133.9 per mmBtu, up by 3.2 per cent, after opening at Rs 130.9, against the previous closing price of Rs 129.7. It touched an intra- day high of Rs 137.3.
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