The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 71 billion cubic feet for the week ended May 14. That was larger than the average increase of 67 billion cubic feet forecast by analysts polled by S&P Global Platts. Total stocks now stand at 2.1 trillion cubic feet, down 391 billion cubic feet from a year ago and 87 billion cubic feet below the five-year average, the government said. Following the data, June natural gas was down 3 cents, or 1.1%, at $2.93 per million British thermal units. It traded at $2.95 shortly before the data.
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