Natural Gas Extends Loss With U.S. Supply Up More Than Expected

Natural-gas futures on Thursday lost more ground after the U.S. Energy Information Administration reported that supplies of natural gas rose by 132 billion cubic feet for the week ended May 29. That was more than the increase of between 118 billion cubic feet and 122 billion cubic feet expected by analysts polled by Platts. Total stocks now stand at 2,233 trillion cubic feet, up 751 billion cubic feet from a year ago and 22 billion cubic feet above the five-year average, the government said. July natural gas was at $2.582 per million British thermal units, down 5.2 cents, or 2%. It was trading around $2.61 before the data.