Natural-gas prices extend gains on smaller-than-expected climb in U.S. supplies
Data from the U.S. Energy Information Administration Thursday showed that domestic supplies of natural gas rose by 45 billion cubic feet for the week ended May 5. Citi Futures had pegged consensus expectations at a build of 61 billion to 62 billion cubic feet. Total stocks now stand at 2.301 trillion cubic feet, down 372 billion cubic feet from a year ago, but 275 billion cubic feet above the five-year average, the government said. June natural gas NGM17, +2.49% rose 8 cents, or 2.4%, from Wednesday’s settlement to $3.372 per million British thermal units. It traded at $3.335 before the data.