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Dec. 10, 2020, 10:36 a.m. EST

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

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By Myra P. Saefong

The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas declined by 91 billion cubic feet for the week ended Dec. 4. On average, the data were expected to show a fall of 78 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.848 trillion cubic feet, up 309 billion cubic feet from a year ago, and 260 billion cubic feet above the five-year average, the government said. Following the data, January natural gas was up 9.8 cents, or 4%, to $2.54 per million British thermal units. It traded at $2.466 shortly before the data.

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