Natural-gas Futures Continue Higher After EIA Reports 2 Billion-cubic-foot Fall In U.S. Supplies

By Myra P. SaefongMarketsMarketWatch Pulse

Natural-gas futures continued to trade higher Wednesday after the U.S. Energy Information Administration reported that supplies of the commodity fell by 2 billion cubic feet for the week ended Nov. 18. Analysts polled by S&P Global Platts expected an increase of 2 billion cubic feet. The data were released early because of Thursday's Thanksgiving holiday. Total stocks now stand at 4.045 trillion cubic feet, up 39 billion cubic feet from a year ago and 241 billion cubic feet above the five-year average, the government said. December natural gas rose 5.1 cents, or 1.7%, to $3.033 per million British thermal units, with the contract set to settle at its highest since Oct. 31.

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