Natural Gas Extends Losses After EIA Reports Supply Rise

Natural-gas futures on Thursday extended earlier declines after the U.S. Energy Information Administration reported that supplies of natural gas climbed by 90 billion cubic feet for the week ended April 17. Analysts surveyed by Platts forecast a climb of between 86 billion cubic feet and 90 billion cubic feet. Total stocks now stand at 1,629 trillion cubic feet, up 737 billion cubic feet from a year ago and 101 billion cubic feet below the five-year average, the government said. May natural gas was at $2.54 per million British thermal units, down 6.5 cents, or 2.5%. It was trading around $2.55 before the data.

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