Natural gas gains; supply rise matches estimate ( NGM11 ) (by Myra P. Saefong)
SAN FRANCISCO (MarketWatch) -- Natural-gas futures on Thursday turned higher after the U.S. government's weekly inventories report showed an increase in supplies that matched market expectations. Natural gas for June delivery (NGM11) tacked on 3.5 cents, or 0.8%, to $4.22 per million British thermal units on the New York Mercantile Exchange. It had been trading almost flat just prior to the data's release. The Energy Information Administration reported an increase of 70 billion cubic feet to storage facilities of the product in the week ended May 6. Analysts surveyed by Platts expected data to show a rise of between 67 billion and 71 billion cubic feet.