MW: Natural gas turns lower after U.S. supply data
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- Natural-gas futures turned lower Thursday, after the Energy Information Administration reported a decline in U.S. inventories that matched market expectations. Supplies fell 94 billion cubic feet for the week ended March 29, the EIA said. Analysts polled by Platts forecast a decline between 90 billion cubic feet and 94 billion. Total stocks now stand at 1.687 trillion cubic feet, down 779 billion cubic feet from the year-ago level and 37 billion cubic feet below the five-year average, the government said. May natural gas NGK13 +0.28% was at $3.89 per million British thermal units, down 1 cent, or 0.3%. It was trading at $3.94 shortly before the data.
