Natural gas gains after hefty supply drop reported today Thur 1/17/2013 for week endind 1/11/2013

 

Jan. 17, 2013, 10:36 a.m. EST

Natural gas gains after hefty supply drop


 

 
 
 
 
 

SAN FRANCISCO (MarketWatch) -- Natural-gas futures climbed Thursday after the Energy Information Administration reported a decline in U.S. inventories that was bigger than expected. Supplies fell 148 billion cubic feet for the week ended Jan. 11, the EIA said. Analysts polled by Platts forecast a decline between 137 billion and 141 billion cubic feet. Total stocks now stand at 3.168 trillion cubic feet, down 147 billion cubic feet from the year-ago level and 316 billion cubic feet above the five-year average, the government said. February natural gas was at $3.49 per million British thermal units, up 6 cents, or 1.7%. It was trading flat around $3.44 shortly

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