From Bloomberg

Natural gas futures rose to the highest in almost eight weeks in New York on speculation that unseasonably cold weather will trim a fuel stockpile glut.

Most of the eastern U.S. will see below-normal temperatures April 9 through April 13, according to MDA Weather Services. The high in Chicago on April 12 may be 55 degrees Fahrenheit (13 Celsius), 3 lower than average, according to AccuWeather Inc.

“A little winter weather is going a long way,” John Kilduff, a partner at Again Capital LLC in New York, said in a phone call. “It looks like this cold snap is a little more intense and a little longer-lasting than initially thought.”

Natural gas futures for May delivery jumped 4.2 cents, or 2.2 percent, to settle at $1.998 per million British thermal units on the New York Mercantile Exchange, the most since Feb. 10. Prices are down 15 percent so far this year.

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