EIA Reports 71 Billion-cubic-foot Rise In U.S. Natural-gas Supplies

By Myra P. SaefongMarketsMarketWatch Pulse

Natural-gas futures fell on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 71 billion cubic feet for the week ended May 20. Analysts polled by S&P Global Platts forecast an increase of 68 billion cubic feet, on average. Total stocks now stand at 2.825 trillion cubic feet, up 756 billion cubic feet from a year ago and 769 billion cubic feet above the five-year average, the government said. June natural gas , which expires at the day's settlement, fell 6.7 cents, or 3.4%, to $1.925 per million British thermal units. Prices traded at $1.965 before the report. July natural gas was down 4.3 cents, or 1.9%, at $2.139. It traded at $2.171 before the data.

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