MW: Natural gas prices rally after EIA storage report
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Natural gas prices rallied on Thursday after a government report showed an increase in natural gas in storage on the lower side of expectations. August natural gas added 18 cents, or 4.2%, to $4.48 per million British thermal units, after swerving in and out positive territory earlier. The Energy Information Administration on Thursday reported an increase of 78 billion cubic feet to the nation's stockpiles of natural gas. Analysts polled by Platts had expected an increase of 78 to 82 billion cubic feet. That compares to an increase of 88 billion cubic feet in the same week last year and a five-year average of 89 billion cubic feet.
