Natural-gas prices extend decline; EIA reports a weekly supply climb of 49 billion cubic feet

The U.S. Energy Information Administration reported on Thursday that domestic supplies of natural gas rose by 49 billion cubic feet for the week ended July 16. IHS Markit had forecast an increase of 51 billion cubic feet. Total stocks now stand at 2.678 trillion cubic feet, down 532 billion cubic feet from a year ago and 176 billion cubic feet below the five-year average, the government said. Following the data, August natural gas NGQ21, -0.86% continued to trade lower, losing 3.5 cents, or 0.9%, at $3.92 per million British thermal units. Prices were at $3.93 shortly before the data.