Natural-gas Prices Extend Losses On Larger-than-expected Climb In U.S. Supplies

By Myra P. SaefongMarketsMarketWatch Pulse

Data from the U.S. Energy Information Administration Thursday showed that domestic supplies of natural gas rose by 81 billion cubic feet for the week ended May 26. Analysts surveyed by S&P Global Platts forecast a build of 74 billion cubic feet. The EIA said its figures included a "reclassification" of stocks, which resulted in a decrease of about 4 bcf in one specific region. Total stocks now stand at 2.525 trillion cubic feet, down 370 billion cubic feet from a year ago, but 225 billion cubic feet above the five-year average, the government said. July natural gas fell 3.3 cents, or 1.1%, from Wednesday's settlement to $3.038 per million British thermal units. It traded at $3.068 before the data.

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