Natural-gas futures continue to fall, even as weekly U.S. supplies decline more than expected

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The U.S. Energy Information Administration reported on Friday that domestic supplies of natural gas declined by 187 billion cubic feet for the week ended Jan. 15. On average, the data, which came out a day later than usual because of Wednesday’s U.S. presidential inauguration, were expected to show a drop of 177 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.009 trillion cubic feet, up 36 billion cubic feet from a year ago, and 198 billion cubic feet above the five-year average, the government said. Following the data, February natural gas
NGG21,
+2.90%
was down 3.3 cents, or 1.3%, to $2.458 per million British thermal units. It traded at $2.464 shortly before the data.

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