EIA Reports Decline Of 243 Billion Cubic Feet In U.S. Natural-gas Supplies

By Myra P. SaefongMarketsMarketWatch Pulse

Natural-gas futures turned higher Thursday after the U.S. Energy Information Administration reported that supplies of natural gas fell by 243 billion cubic feet for the week ended Jan. 13. That was a higher than the decline of 238 billion cubic feet expected by analyst polled by S&P Global Platts. Total stocks now stand at 2.917 trillion cubic feet, down 431 billion cubic feet from a year ago and 77 billion cubic feet below the five-year average, the government said. February natural gas rose 2.4 cents, or 0.7%, to $3.326 per million British thermal units. It traded at $3.263 before the data.

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