The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas rose by 62 billion cubic feet for the week ended July 12. The data were expected to show a build of 65 billion cubic feet, on average, according to analysts polled by S&P Global Platts. Total stocks now stand at 2.533 trillion cubic feet, up 291 billion cubic feet from a year ago, but 143 billion below the five-year average, the government said. August natural gas traded at $2.325 per million British thermal units, up 2.1 cents, or 0.9%, from Wednesday's settlement. It was trading at $2.335 before the data.
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U.S. oil prices drop to lowest levels in a month