Natural gas gains more after EIA supply data ( NGZ12 ) (by Myra P. Saefong)
SAN FRANCISCO (MarketWatch) -- Natural-gas futures added to gains Wednesday after the Energy Information Administration reported that inventories of the commodity fell 38 billion cubic feet for the week ended Nov. 16. Analysts polled by Platts expected a withdrawal of between 23 billion cubic feet and 27 billion. The EIA data was released a day early due to Thursday's Thanksgiving holiday. Total stocks now stand at 3.873 trillion cubic feet, up 24 billion cubic feet from the year-ago level and 168 billion cubic feet above the five-year average, the government said. December natural gas (ngz12) was at $3.86 per million British thermal units, up 3 cents. It was trading around $3.84 shortly before the data.