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EIA reports a smaller-than-expected weekly fall in U.S. natural-gas supplies

31589 eia reports a smaller than expected weekly fall in us natural gas supplies

The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 268 billion cubic feet for the week ended Jan. 28. That compared with the average decline of 274 billion cubic feet forecast by analysts polled by S&P Global Platts, which pegged the five-year average supply fall for the period at 150 billion cubic feet. Total stocks now stand at 2.323 trillion cubic feet, down 393 billion cubic feet from a year ago and 143 billion cubic feet below the five-year average, the government said. Following the data, March natural gas NGH22, +2.52% extended its decline, trading down by 56 cents, or 10.2%, at $4.941 per million British thermal units. Prices were at $4.989 shortly before the data.

Source: Marketwatch

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