EIA Reports An Unexpected Weekly Climb In U.S. Natural-gas Supplies

By Myra P. Saefong Markets MarketWatch Pulse

Data from the U.S. Energy Information Administration Thursday showed that domestic supplies of natural gas rose by 7 billion cubic feet for the week ended Feb. 24. Analysts expected inventories to fall by just 2 billion cubic feet, on average, for the week, following milder winter weather that dulled demand for the fuel, according to S&P Global Platts. Total stocks now stand at 2.363 trillion cubic feet, down 187 billion cubic feet from a year ago, but 295 billion cubic feet above the five-year average, the government said. April natural gas fell 3 cents, or 1.1%, from Wednesday's settlement to $2.769 per million British thermal units. It traded at $2.786 before the data.

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