: Natural-gas futures up sharply as EIA reports a smaller-than-expected rise in U.S. natural-gas supply


Natural-gas futures climbed sharply Thursday after the U.S. Energy Information Administration reported on a slightly smaller-than-expected weekly rise in domestic natural-gas supplies. Inventories of the fuel in storage climbed by 99 billion cubic feet for the week ended May 12, the EIA said. Analysts called for a storage increase of 106 billion cubic feet on average, according to a survey conducted by S&P Global Commodity Insights. Total working gas in storage for the latest week was at 2.240 trillion cubic feet, up 521 billion cubic feet from a year ago and 340 billion cubic feet above the five-year average, the government said. Following the data, June natural gas NGM23, +6.26% was up 10.8 cents, or 4.6%, at $2.473 per million British thermal units on the New York Mercantile Exchange. Prices traded at $2.394 shortly before the supply data.

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

Previous articleThe Human Cost: ‘There’s no such thing as travel etiquette’: Flight attendants brace a summer of overbooked planes and unruly airline passengers
Next articleReal-estate mogul Sam Zell is dead at 81


Please enter your comment!
Please enter your name here