MW: Natural gas extends gains after EIA supply data
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- Natural-gas futures extended gains Thursday after the Energy Information Administration reported that inventories of the commodity rose less than expected, by 67 billion cubic feet for the week ended June 8. Analysts polled by Platts expected the report to show a climb of between 71 billion cubic feet and 75 billion. Total stocks now stand at 2.944 trillion cubic feet, up 708 billion cubic feet from the year-ago level and 666 billion cubic feet above the five-year average, the government said. July natural gas NGN12 +1.28% was up 13 cents, or 6%, at $2.32 per million British thermal units. It was trading around $2.21 shortly before the data.
