Natural-gas Prices Hold Onto Gains As U.S. Supplies Fall 53 Billion Cubic Feet

By MarketWatch Pulse

Natural-gas futures held onto earlier gains on Thursday after the U.S. Energy Information Administration reported that supplies of natural gas fell 53 billion cubic feet for the week ended Nov. 27. Analysts polled by Platts were looking for decline of between 46 billion cubic feet and 50 billion cubic feet. Total stocks now stand at 3.956 trillion cubic feet, up 543 billion cubic feet from a year ago and 247 billion cubic feet above the five-year average, the government said. January natural gas was at $2.172 per million British thermal units, up less than a penny. Prices traded $2.167 before the supply data.

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