EIA reports a 58 billion cubic foot weekly climb in U.S. natural-gas supplies

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The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 58 billion cubic feet for the week ended July 8. That compared to an average forecast for an increase of 61 billion cubic feet from analysts polled by S&P Global Commodity Insights. Total working gas stocks in storage stand at 2.369 trillion cubic feet, down 252 billion cubic feet from a year ago and 319 billion cubic feet below the five-year average, the government said. Following the data, August natural gas NGQ22, +1.45% was up 7.2 cents, or 1.1%, at $6.761 per million British thermal units. Prices traded at $6.832 before the supply data.

This article was originally published by Marketwatch.com. Read the original article here.

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