Natural-gas futures add to losses after report

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Natural-gas futures add to losses after report (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Natural-gas futures added to losses Thursday after a U.S. government weekly report on supplies showed a top-of-the-range increase in inventories. Natural gas for April delivery (ngj12) declined 7 cents, or 2.8%, to $2.30 per million British thermal units on the New York Mercantile Exchange. The Energy Information Administration reported an increase of 11 billion cubic feet for the week ended March 16. Analysts polled by Platts had expected an increase between 7 bcf and 11 bcf. The increase comes two weeks sooner than usual as a warm winter East of the Rockies and gains in gas exploration have kept prices at or near 10-year lows.

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