EIA Reports 65 Billion-cubic-foot Rise In U.S. Natural-gas Supplies

By Myra P. SaefongMarketsMarketWatch Pulse

Natural-gas futures turned higher on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 65 billion cubic feet for the week ended June 3. That was below the average rise of 80 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 2.972 trillion cubic feet, up 660 billion cubic feet from a year ago and 722 billion cubic feet above the five-year average, the government said. July natural gas was up 7.4 cents, or 3%, at $2.542 per million British thermal units. It traded at $2.46 before the data.

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