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Natural Gas futures gain on cold weather forecast

Natural gas futures pulled back from early highs, still ending the week’s opening session with a gain as near-term cold weather that could prevent surpluses in natural gas inventories from widening further offered some support.

U.S. natural gas futures gained about 3% on Monday on forecasts for colder weather and higher heating demand over the next two weeks than previously expected.

Front-month gas futures NGc1 for April delivery on the New York Mercantile Exchange rose 4.8 cents, or 2.9%, to settle at $1.703 per million British thermal units (mmBtu). On Friday, the contract closed at its lowest since Feb. 27.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.

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