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

30857 eia reports a bigger than expected weekly fall in us supplies

The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 219 billion cubic feet for the week ended Jan. 21. IHS Markit had forecast a decline of 209 billion cubic feet. Total stocks now stand at 2.591 trillion cubic feet, down 308 billion cubic feet from a year ago and 25 billion cubic feet below the five-year average, the government said. Following the data, February natural gas NGG22, +2.34% extended its gain, trading up by 10.2 cents, or 2.4%, at $4.379 per million British thermal units, ahead of the contract’s expiration at the end of the session. Prices were at $4.345 shortly before the data.

Source: Marketwatch

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