US natural gas supplies grew last week

AP News
Posted: Oct 20, 2011 11:10 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 by103 billion cubic feet to 3.624 trillion cubic feet for the week ended Oct. 14.

Analysts expected a rise of 109 billion to 113 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 3.2 percent above the five-year average of 3.511 trillion cubic feet, and 1.3 percent below last year's level of 3.670 trillion cubic feet, according to the government data.

In morning trading natural gas rose 13 cents to $3.716 per 1,000 cubic feet in New York.