Nat gas futures adds to losses after EIA report (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Natural-gas futures added to losses Thursday after a weekly government report showed a smaller-than-expected decrease in inventories for the week ended Jan. 7. The Energy Information Administration said natural gas in storages declined 138 million cubic feet. Analysts polled by Platts had expected a decline of 139 to 143 billion cubic feet. Natural gas for February delivery was off 13 cents, or 2.7%, to $4.41 per million British thermal units. It traded at $4.48 per million Btus before the report.
(Note on Natgas chart: The 50dma moved above the 200dma yesterday. The last time that event occurred was Oct. 2009, 15 months ago)