Natural-gas prices pare losses as U.S. supplies fall more than expected

The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 36 billion cubic feet for the week ended April 13. Analysts surveyed by S&P Global Platts had forecast a decrease of 25 billion cubic feet, but on average over the last five years for the same week inventories climbed by 38 billion cubic feet. Total stocks now stand at 1.299 trillion cubic feet, down 808 billion cubic feet from a year ago, and 449 billion below the five-year average, the government said. May natural gas was down 3.5 cents, or 1.2%, at $2.704 per million British thermal units, up from $2.685 before the data.

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