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Market Chatter: Natural-Gas Prices Jump; Oil Gains After U.S. data

"Natural-gas futures jumped Thursday, trading at nearly fourth-month highs following a bigger-than-expected drop in U.S. inventories, and oil futures rose as U.S. labor-market data helped aid hopes for higher demand for the commodity," MarketWatch reported.

It reported: "April natural gas rose 11 cents, or 3%, to $3.79 per million British thermal units, after the Energy Information Administration said U.S. supplies fell 145 billion cubic feet for the week ended March 8. Analysts polled by Platts had anticipated a decline between 133 billion cubic feet and 137 billion."

It said: "April natural gas had been trading at $3.75 shortly before the data were released. Thursday's gain put natural-gas prices at levels last seen in late November.

Meanwhile, MarketWatch also reported "oil futures traded higher, with investors weighing the outlook for the market on the heels of positive U.S. economic data and a forecast for lower global demand growth. It said: "Crude oil for delivery in April rose 33 cents, or 0.4%, to $92.85 a barrel on the New York Mercantile Exchange. Prices had closed 2 cents lower on Wednesday."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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