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Natural Gas futures advanced in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for a late cold front in early April across the US Northeast and Midwest bolstered the demand outlook for the heating fuel and eased concerns over oversupplies.
Energy Aspects said that US natural gas output has fallen 2 per cent from a recent high of 73 billion cubic feet while the EIA on Thursday, may show a 24 billion cubic feet withdrawal in US gas supplies in the week ended March 25, 2016.
At the MCX, Natural Gas futures for April 2016 contract closed at Rs 132.8 per mmBtu, up by 0.53 per cent, after opening at Rs 132, against the previous closing price of Rs 132.1. It touched an intra- day high of Rs 133.8.