Afternoon Coffee: Natural Gas Supplies Rise and Push Up Prices, Jobless Claims Fall


US natural gas supplies grew in the last week, the Energy Information Administration reported this morning, which made natural gas futures fall in price 1.4% to $2.878 a million British thermal units on the New York Mercantile Exchange. Natural gas inventories rose 99 billion cubic feet for the week ending July 10, which was more than the 94 bcf analysts had expected.

Jobless claims were down in the last week by 15,000, showing an improving labor market, the Labor Department reported today. The number of claims for state unemployment benefits reached 281,000 for the week ending July 11, reversing an upward trend seen in the previous 3 weeks.

Food prices around the world have hit their lowest level in years, with the cost for staples like dairy, sugar and meat falling 0.9% in June, the lowest since September 2009. Yet for the most part, food prices in the US are increasing at an average rate of 2.4% since the start of 2015.

eBay will sell its eBay Enterprise unit for $925 million to a consortium of private equity firms. The e-commerce company said it was shedding this unit because it no longer fit with the rest of the business.


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