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July 7, 2022, 10:35 a.m. EDT

Natural-gas futures extend gains as EIA reports a smaller-than-expected rise in U.S. supplies

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By Myra P. Saefong

The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 60 billion cubic feet for the week ended July 1. That compared to an average forecast for an increase of 73 billion cubic feet from analysts polled by S&P Global Commodity Insights. Total working gas stocks in storage stand at 2.311 trillion cubic feet, down 261 billion cubic feet from a year ago and 322 billion cubic feet below the five-year average, the government said. Following the data, August natural gas was up 66 cents, or 12%, at $6.17 per million British thermal units. Prices traded at $5.751 before the supply data.

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