Natural-gas Prices Pare Gains As EIA Reports Larger-than-expected Climb In U.S. Supplies

By Myra P. Saefong Markets MarketWatch Pulse

Data from the U.S. Energy Information Administration on Friday showed that domestic supplies of natural gas rose by 72 billion cubic feet for the week ended June 30. The report was delayed by a day because of the Independence Day holiday. Analysts surveyed by S&P Global Platts forecast a build of 63 billion cubic feet. Total stocks now stand at 2.888 trillion cubic feet, down 285 billion cubic feet from a year ago, but 187 billion cubic feet above the five-year average, the government said. August natural gas added a penny, or 0.4%, from Wednesday's settlement to $2.898 per million British thermal units. It traded at $2.925 before the data.

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