EIA Reports Weekly Fall Of 68 Billion Cubic Feet 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 fell by 68 billion cubic feet for the week ended March 3. Analysts expected inventories to decline by 58 billion cubic feet, on average, according to S&P Global Platts. The EIA said its figures included a "reclassification" of stocks, which resulted in a decrease of about 4 bcf in one specific region. Total stocks now stand at 2.295 trillion cubic feet, down 192 billion cubic feet from a year ago, but 363 billion cubic feet above the five-year average, the government said. April natural gas rose 5.6 cents, or 1.9%, from Wednesday's settlement to $2.956 per million British thermal units.

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