US natural gas supplies increased last week

AP News
Posted: Sep 22, 2011 10:34 AM
US natural gas supplies increased last week

The nation's natural gas supplies rose last week by about as much as analysts expected, the government said Thursday.

The Energy Department's Energy Information Administration said in its weekly report that natural gas in storage grew by 89 billion cubic feet to 3.201 trillion cubic feet for the week ended Sept. 16.

Analysts expected a rise of 89 billion to 93 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 1.1 percent below the five-year average of 3.236 trillion cubic feet, and 3.9 percent below last year's level of 3.330 trillion cubic feet, according to the government data.

Natural gas was virtually unchanged at $3.732 per 1,000 cubic feet in the New York.