Natural gas trims loss after EIA report

SAN FRANCISCO (MarketWatch) -- Natural-gas futures cut their losses Thursday after the Energy Information Administration reported a weekly drop in natural-gas stockpiles that was slightly deeper than expectations. Natural gas for January delivery recently traded down 1 cent at $4.134 per million British thermal units. Ahead of the 10:30 a.m. data, it had been down 6 cents. The EIA said working gas in storage fell 184 billion cubic feet in the week ended Dec. 17. Analysts polled by Platts were expecting a drawdown of between 178 billion and 182 billion cubic feet. Weather last week was 3% colder than a year earlier and 13% colder than normal, triggering a run on storage gas to meet heating demand, according to Jefferies & Co.