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Dec. 17, 2020, 10:38 a.m. EST

Natural-gas futures turn slightly lower as U.S. weekly supplies fall by 122 billion cubic feet

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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 122 billion cubic feet for the week ended Dec. 11. On average, the data were expected to show a drop of 127 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.726 trillion cubic feet, up 284 billion cubic feet from a year ago, and 243 billion cubic feet above the five-year average, the government said. Following the data, January natural gas was down 1.5 cents, or 0.6%, to $2.662 per million British thermal units. It traded at $2.702 shortly before the data.

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