The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 15 billion cubic feet for the week ended April 8. That compared with an average weekly climb of 10 billion forecast by analysts surveyed by S&P Global Commodity Insights, which pegged the average five-year supply build at 33 billion. Total supplies in storage stand at 1.397 trillion cubic feet, down 439 billion cubic feet from a year ago and 303 billion cubic feet below the five-year average, the government said. Following the data, May natural gas rose 11.3 cents, or 1.6%, at $7.11 per million British thermal units, trading at the highest prices since November 2008. Prices traded at $6.969 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.
