NEW YORK–Natural-gas futures took off for the first time in a week, rising
more than 2% Thursday on news that inventory additions fell short of
expectations.
Producers added 97 billion cubic feet of gas to storage for the week ended
May 9, the U.S. Energy Information Administration said. That is 2 bcf less than
what 16 traders, brokers and analysts forecasted in a Wall Street Journal
survey.
Natural gas for June delivery recently jumped 12 cents, or 2.7%, at $4.487 a
million British thermal units on the New York Mercantile Exchange. It is the
first rise in prices in more than a week and pulled natural gas off the
six-week low it had touched in early morning trading.
