Natural-gas Prices Hold Onto Gains As U.S. Supplies Rise Less Than Expected

By Myra P. SaefongMarketWatch Pulse

Natural-gas futures held onto earlier gains Thursday after the U.S. Energy Information Administration reported that supplies of natural gas rose 81 billion cubic feet for the week ended Oct. 16. Analysts polled by Platts forecast a climb of between 86 billion cubic feet and 90 billion cubic feet. Total stocks now stand at 3.814 trillion cubic feet, up 434 billion cubic feet from a year ago and 163 billion cubic feet above the five-year average, the government said. November natural gas was at $2.419 per million British thermal units, up 1.5 cents, or 0.6%. It traded at $2.41 before the supply data.

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