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EIA reports a hefty weekly decline in U.S. natural-gas supplies

The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 204 billion cubic feet for the week ended March 8. That was within range of the 208 billion-cubic-feet decline expected by analysts polled by S&P Global Platts. Total stocks now stand at 1.186 trillion cubic feet, down 359 billion cubic feet from a year ago and 569 billion below the five-year average, the government said. April natural gas traded at $2.834 per million British thermal units, up 1.4 cents, or 0.5%, from Wednesday’s settlement. It was at $2.844 before the supply data.

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