Natural-gas Prices Fall Further As U.S. Supplies Decline Less Than Expected

Natural-gas futures lost more ground on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity declined by 168 billion cubic feet for the week ended Jan. 8. Analysts polled by Platts had expected a decline of between 176 billion cubic feet and 180 billion cubic feet. Total stocks now stand at 3.475 trillion cubic feet, up 587 billion cubic feet from a year ago and 474 billion cubic feet above the five-year average, the government said. February natural gas was at $2.177 per million British thermal units, down 9.2 cents, or 4.1%. Prices traded $2.224 before the supply data.

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