Natural-gas futures move higher as U.S. weekly supplies fall by 130 billion cubic feet

The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas declined by 130 billion cubic feet for the week ended Jan. 1. On average, the data were expected to show a drop of 139 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.330 trillion cubic feet, up 138 billion cubic feet from a year ago, and 201 billion cubic feet above the five-year average, the government said. Following the data, February natural gas
NGG21,
+0.44%
was up 2.9 cents, or 1.1%, to $2.745 per million British thermal units. It traded at $2.711 shortly before the data.