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Natural-gas futures continue higher after the EIA’s weekly report on supplies
The U.S. Energy Information Administration reported on Friday that U.S. natural-gas supplies in storage rose by 72 billion cubic feet for the week ended June 30. Analysts had called for a storage increase of 65 billion cubic feet on average, according to a survey conducted by S&P Global Commodity Insights. However, the EIA report, which was delayed by a day this week due to Tuesday’s Fourth of July holiday, included revisions to figures tied to reclassifications of some natural gas in storage from base gas to working gas. Working gas is the volume of gas available in the market. The EIA’s reclassifications ... (full story)