Natural-gas prices turn higher; EIA reports a 38 billion cubic foot rise in U.S. natural-gas supplies

The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose

Natural-gas prices turn higher; EIA reports a 38 billion cubic foot rise in U.S. natural-gas supplies

The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 38 billion cubic feet for the week ended April 16. That just about matched an average increase of 37 billion cubic feet forecast by analysts polled by S&P Global Platts. Total stocks now stand at 1.883 trillion cubic feet, down 251 billion cubic feet from a year ago but 12 billion cubic feet above the five-year average, the government said. Following the data, May natural gas was up 4.3 cents, or 1.6%, to $2.74 per million British thermal units. It traded at $2.69 shortly before the data.