Natural gas futures retreated for a second-straight session from an adjustment in federal data that show inventories of the fuel are higher than previously reported. Futures for December delivery recently traded down 1.7 cents, or 0.7%, at $2.354/mmBtu on the New York Mercantile Exchange. The Energy Information Administration revised its inventory data late on Monday to show natural-gas inventories rose by 54 billion cubic feet to a record high of 3.985 trillion cubic feet in the week ended Nov. 6. The revision increased the previously reported stockpile level by 7 bcf because of a change in the agency’s methodology. The revised number pushes stockpiles closer to the psychologically important 4 tcf mark and increases fears that natural-gas storage facilities could run out of room to store the fuel. Mild weather has reduced demand for the heating fuel in recent weeks, leading to larger-than-average storage builds. The change is neutralizing […]