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Natural gas retreats further after supply data

Natural gas retreats further after supply data (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Natural-gas futures added to losses Thursday after a weekly government report showed a decline in supplies below analyst expectations. Natural gas for February delivery (ng12g) declined 10 cents, or 3.9%, to $2.42 per million British thermal units; it traded around $2.45 before the data. The Energy Information Administration reported supplies 87 billion cubic feet lower in the week ended Jan. 13. Analysts polled by Platts had expected a decline between 88 bcf and 92 bcf. Plentiful supplies and warmer weather trends have taken natural gas to its lowest since March 2002.