Ahead of the Bell: Natural gas supplies
NEW YORK (AP) — The Energy Department is expected to report Wednesday that the nation's natural gas supplies shrank by 23 billion to 27 billion cubic feet in the week ended Nov. 16, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
A draw of that size compares with the 9 billion cubic feet put in storage in the comparable week a year ago and the five-year average addition of 3 billion cubic feet.
Colder temperatures across the nation are increasing demand for natural gas to heat homes and businesses. More utilities are switching from coal to natural gas for electricity generation as well.
The Energy Information Administration releases its weekly report at 10:30 a.m. EST. The report will be released a day earlier than usual because of the Thanksgiving holiday on Thursday.