EIA report reveals a smaller-than-expected weekly fall in U.S. natural-gas supplies
The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 237 billion cubic feet for the week ended Feb. 1. Analysts polled by S&P Global Platts had forecast a decline of 249 billion cubic feet, though the average over the last five years for the same week was a fall of 150 billion. Total stocks now stand at 1.960 trillion cubic feet, down 135 billion cubic feet from a year ago and 415 billion below the five-year average, the government said. March natural gas traded at $2.596 per million British thermal units, down 6.6 cents, or 2.5%, from Wednesday's settlement. It was trading at $2.615 before the supply data. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.