Natural-gas Futures Extend Gains After EIA Reports Fall Of 50 Billion Cubic Feet In U.S. Supplies

Natural-gas futures gained more ground Thursday after the U.S. Energy Information Administration reported that supplies of the commodity fell by 50 billion cubic feet for the week ended Nov. 25. That matched the forecasted decline from analysts polled by S&P Global Platts. Total stocks now stand at 3.995 trillion cubic feet, up 24 billion cubic feet from a year ago and 235 billion cubic feet above the five-year average, the government said. January natural gas rose 10.2 cents, or 3%, to $3.453 per million British thermal units. It traded at $3.438 before the data.

Copyright © 2016 MarketWatch, Inc.