EIA reports a modest weekly fall in U.S. natural-gas supplies
The U.S. Energy Information Administration reported Friday that domestic supplies of natural gas fell by 20 billion cubic feet for the week ended Dec. 28. Analysts polled by S&P Global Platts had forecast a decline of 42 billion cubic feet, on average, while the five-year average decline stands at 107 billion. The EIA released data a day later than usual due to Tuesday's New Year's Day holiday. Total stocks now stand at 2.705 trillion cubic feet, down 450 billion cubic feet from a year ago, and 560 billion below the five-year average, the government said. February natural gas traded at $2.968 per million British thermal units, up 2.3 cents, or 0.9%, from Thursday's settlement. It was trading at $2.978 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.