EIA data reveal an unexpected climb in weekly U.S. natural-gas supplies

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The U.S. Energy Information Administration reported on Friday that domestic supplies of natural gas rose by 8 billion cubic feet for the week ended Nov. 6. On average, the supply data, which were delayed by a day this week due to Wednesday’s Veterans Day holiday, were expected to show a decline of 4 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.927 trillion cubic feet, up 196 billion cubic feet from a year ago, and 176 billion cubic feet above the five-year average, the government said. Following the data, December natural gas was up 2.5 cents, or 0.8%, to $3.001 per million British thermal units. It traded at $3.035 shortly before the data.
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