Natural gas prices rose Friday on indications that the glut of the fuel is shrinking. The natural-gas market is oversupplied following a winter of sluggish demand and robust production. However, stockpiles of the fuel fell more than expected last week, reducing the surplus, the Energy Information Administration said Thursday. Inventories of natural gas stood 9.8% above the five-year average level for this time of year as of Sept. 2, according to the EIA, down from a surplus of 11% the prior week. Natural gas futures for October delivery recently rose 1.4 cents, or 0.5%, to $2.820 a million British thermal units on the New York Mercantile Exchange. However, demand for natural gas is expected to decline in the coming weeks as the weather cools. Hot temperatures increase demand for gas-powered electricity to run air-conditioning units. Last week’s storage injection “will quickly move into the rearview mirror as injections […]