Natural-gas futures showed little reaction Thursday to data from the U.S. Energy Information Administration showing that supplies of natural gas fell by 87 billion cubic feet for the week ended Jan. 27. That was generally in line with the decline of 83 billion expected by analyst polled by S&P Global Platts.
Total stocks now stand at 2.711 trillion cubic feet, down 266 billion cubic feet from a year ago, but 59 billion cubic feet above the five-year average, the government said. March natural gas NGH17, +0.16% fell 3.7 cents, or 1.2%, from Wednesday’s settlement to $3.131 per million British thermal units. It traded at $3.129 before the data.
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