The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 115 billion cubic feet for the week ended May 21. That was a bit larger than the average increase of 107 billion cubic feet forecast by analysts polled by S&P Global Platts. Total stocks now stand at 2.215 trillion cubic feet, down 381 billion cubic feet from a year ago and 63 billion cubic feet below the five-year average, the government said. Following the data, July natural gas was down 4.7 cents, or nearly 1.6%, at $2.98 per million British thermal units. It traded at $3.01 shortly before the 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.