Natural-gas prices decline after EIA reports a bigger-than-expected weekly rise in U.S. supplies

Natural-gas prices decline after EIA reports a bigger-than-expected weekly rise in U.S. supplies

By

Markets/commodities reporter

The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 98 billion cubic feet for the week ended Sept. 28. That was above the 85 billion-cubic-foot increase expected by analysts polled by S&P Global Platts. Total stocks now stand at 2.866 trillion cubic feet, down 636 billion cubic feet from a year ago, and 607 billion below the five-year average, the government said. November natural gas NGX18, -2.48% traded at $3.153 per million British thermal units, down 7.7 cents, or 2.4%, from Wednesday’s settlement. It was trading at $3.187 before the supply data.

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