Natural-gas Futures Pare Gains After EIA Says U.S. Supplies Up 29 Billion Cubic Feet

Natural-gas futures pared their gains to trade nearly flat on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 29 billion cubic feet for the week ended August 5. That was above the average rise of 25 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 3.317 trillion cubic feet, up 361 billion cubic feet from a year ago and 440 billion cubic feet above the five-year average, the government said. September natural gas traded nearly flat at $2.563 per million British thermal units, barely changed from Wednesday's settlement of $2.561. It traded higher at $2.572 before the data.