Natural gas prices rise, oil steady at $104

Oil   Natural Gas
By The Associated Press on April 26, 2012

Natural gas futures continued their rise off 10-year lows Thursday on hopes that demand is picking up and plans by drillers to cut production in response to low prices.

Natural gas rose to $2.13 per thousand cubic feet, a gain of 3 percent, in morning trading. Forecasters are predicting a cool spring in the Northeast, which could increase demand for the fuel. Also, utilities are taking advantage of low natural gas prices by using more of the fuel to generate electricity.

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