US natural gas supplies increased last week

AP News
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Posted: Sep 29, 2011 12:32 PM
US natural gas supplies increased last week

The nation's natural gas supplies last week rose more than analysts expected, according to a government report on Thursday.

The Energy Department's Energy Information Administration said in its weekly report that natural gas in underground storage grew by 111 billion cubic feet to 3.312 trillion cubic feet for the week ended Sept. 23.

Analysts expected a rise of 99 billion and 103 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 0.2 percent above the five-year average of 3.307 trillion cubic feet, and 2.7 percent below the year-ago level of 3.403 trillion cubic feet, according to the government data.

Natural gas fell 5 cents to $3.745 per 1,000 cubic feet in the New York.