MTECHTIPS:-U.S. natural gas jumps to 15-week high after weekly

MTECHTIPS:-U.S. natural gas jumps to 15-week high after weekly storage data

MTECHTIPS-U.S. natural gas futures added to gains on Thursday, rising to the strongest level in around 15 weeks after data showed that natural gas supplies in storage in the U.S. rose less than expected last week. U.S. natural gas for June delivery gained 8.0 cents, or around 2.4%, to $3.372 per million British thermal units by 10:35 AM ET (14:35 GMT). It touched a daily peak of $3.388, a level not seen since January 27. Futures were at around $3.335 prior to the release of the supply data. Prices of the heating fuel rallied 6.5 cents on Wednesday. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 45 billion cubic feet in the week ended May 5, below forecasts for a build of 53 billion. That compared with a gain of 67 billion cubic feet in the preceding week, an increase of 68 billion a year earlier and a five-year average rise of 73 billion cubic feet. Total natural gas in storage currently stands at 2.301 trillion cubic feet, according to the U.S. Energy Information Administration, 13.9% lower than levels at this time a year ago but 12.0% above the five-year average for this time of year. Meanwhile, cool conditions are expected to linger over the northeastern U.S. through early next week, according to forecasters at
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