SAN FRANCISCO (MarketWatch) -- Natural-gas futures climbed closer to $12 per million British thermal units Friday, as concerns about the potential for disrupted output during the Atlantic hurricane season fed a rally that lifted prices for the commodity by almost 7% for the week.
Crude-oil futures closed higher after losing more than $2 on Thursday. The benchmark contract ended the week with a gain of nearly 5%, fueled by a four-session winning streak.
Supply concerns, as well as weakness in the dollar, continue to support oil prices.
Natural gas for June delivery climbed as high as $11.87 per million British thermal units on the New York Mercantile Exchange. That's the highest level that contract has ever reached on the exchange.
It closed up 15.7 cents, or 1.3%, to $11.857. The contract closed out last Friday at $11.09.
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