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Natural-gas futures extend losses as weekly U.S. supplies drop by 171 billion cubic feet
The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas declined by 171 billion cubic feet for the week ended Feb. 5. On average, the data were expected to show a drop of 175 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 2.518 trillion cubic feet, down 9 billion cubic feet from a year ago, but 152 billion cubic feet above the five-year average, the government said. Following the data, March natural gas NGH21, -1.10% was down 1.4 cents, or 0.5%, to $2.897 per million British thermal units. It traded at ... (full story)