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Natural gas futures add to losses after EIA

Natural gas futures add to losses after EIA (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Natural-gas futures added to earlier losses Thursday after the Energy Information Administration reported an inventories decline in line with expectations. Natural gas for March delivery (NGH11) retreated 10 cents, or 2.7%, to $3.79 per million British thermal units. It traded at $3.82 right before the announcement. The EIA reported a drop of 81 billion cubic feet in supplies for the week ended Feb. 18. Analysts polled by Platts had expected a decline of 81 Bcf to 85 Bcf. The decline was smaller than the 174-Bcf drop in the comparable week in 2010 and below the five-year-average withdrawal of 148 Bcf.

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Natural gas futures add to losses after EIA