EIA reports drop of 147 billion cubic feet in U.S. natural-gas supplies
Natural-gas futures turned higher Thursday after the U.S. Energy Information Administration reported that supplies of natural gas dropped by 147 billion cubic feet for the week ended Dec. 9. Analysts at Citi Futures had forecast a fall of 124 billion cubic feet. Total stocks now stand at 3.806 trillion cubic feet, down 50 billion cubic feet from a year ago but 186 billion cubic feet above the five-year average, the government said. January natural gas NGF17, -1.13% added 2.5 cents, or 0.7%, to $3.565 per million British thermal units. It traded at $3.514 before the data.