US natural gas supplies grew last week

AP News
Posted: Oct 13, 2011 10:36 AM
US natural gas supplies grew last week

The nation's natural gas supplies rose last week, the government said Thursday.

The Energy Department's Energy Information Administration said in its weekly report that natural gas in storage grew by 112 billion cubic feet to 3.521 trillion cubic feet for the week ended Oct. 7.

Analysts expected a rise of 104 billion and 108 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 2 percent above the five-year average of 3.453 trillion cubic feet, and 1.6 percent below last year's level of 3.577 trillion cubic feet, according to the government data.

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Natural gas fell 1 cent to $3.483 per 1,000 cubic feet in the New York.