Natural-gas prices extended their gains to a new five-week high on Friday as traders who had bet on lower prices closed out those wagers. Natural gas for June delivery settled up 2.5 cents, or 0.9%, to $2.776 a million British thermal units on the New York Mercantile Exchange, the highest settlement since March 24. Prices rose 8.1% for the week. The rally began Tuesday but picked up steam on Thursday after U.S. government data showed that stockpiles grew less than expected last week. Robust production had kept prices subdued in recent months, especially as warmer weather reduced demand for gas-powered indoor heating. But the smaller-than-expected addition to stockpiles “spooked some traders who were expecting massive injections due to oversupply during the month of May,” said Aaron Calder, an analyst at Gelber & Associates, in a note. “Traders saw the cracks in the wall of production […]