Natural gas prices rose Thursday after another sign the market’s longstanding oversupply may be relenting. The U.S. Energy Information Administration said producers made a lower-than-normal addition to storage for a second-straight week. Storage levels grew by 69 billion cubic feet in the week ended June 26, 2 bcf less than the average of forecaster surveyed by The Wall Street Journal and 6-bcf lower than the average addition for this week of the year. Prices for the front-month August contract settled up 3.9 cents, or 1.4%, to $2.822 a million British thermal units on the New York Mercantile Exchange. Prices pared gains in the afternoon and ended the day firmly in the 17-cent range they have settled in for the past three weeks. The EIA update is widely considered one of the best measures of supply and demand for the natural gas market. When a stockpile addition […]