Natural gas turns positive after inventories data (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Natural-gas futures turned positive Thursday after a weekly inventories report showed an increase in supplies roughly in line with expectations. Natural gas for August delivery (ng11q) gained 3 cents, or 0.7%, to $4.36 per million British thermal units on the New York Mercantile Exchange. The contract traded at $4.25 per million Btus moments before the report was released. The Energy Information Administration reported an addition of 78 billion cubic feet to the nation's supplies of natural gas for the week ended June 24. Analysts at Prestige Economics had projected gains around 76 bcf, while Citi Futures Perspective saw an increase of 83 bcf.