Natural-gas futures pares losses after EIA reports 62 billion-cubic-foot rise in U.S. supplies
Natural-gas futures pared some of their losses Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 62 billion cubic feet for the week ended Sept. 9. That was in line with the average rise of between 59 billion and 63 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 3.499 trillion cubic feet, up 184 billion cubic feet from a year ago and 299 billion cubic feet above the five-year average, the government said. October natural gas was down 1.2 cents, or 0.4%, from Wednesday's settlement to $2.877 per million British thermal units. It traded at $2.838 before the data.
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