Natural-gas futures extend gains as U.S. supplies fall more than expected

The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 217 billion cubic feet for the week ended Feb. 3. That compared with an average analyst forecast for a decline of 197 billion cubic feet, according to a survey conducted by S&P Global Commodity Insights. Total working gas stocks in storage for the latest week was at 2.366 trillion cubic feet, up 233 billion cubic feet from a year ago and 117 billion cubic feet above the five-year average, the government said. Following the data, March natural gas
NGH23,
+1.71%
was up 6.3 cents, or 2.6%, at $2.459 per million British thermal units on the New York Mercantile Exchange. Prices traded at $2.443 before the supply data.