EIA reports a bigger-than-expected weekly fall in U.S. supplies

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U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 206 billion cubic feet for the week ended Jan. 14. That compared with the average decline of 193 billion cubic feet forecast by analysts polled by S&P Global Platts, which pegged the five-year average supply fall for the period at 167 billion cubic feet. Total stocks now stand at 2.810 trillion cubic feet, down 226 billion cubic feet from a year ago, but 33 billion cubic feet above the five-year average, the government said. Following the data, February natural gas NGG22, -0.98% continued its decline, trading 17.5 cents, or 4.3%, lower at $3.856 per million British thermal units.

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

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