US natural gas supplies grew last week

AP News
Posted: Oct 27, 2011 10:52 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 92 billion cubic feet to 3.716 trillion cubic feet for the week ended Oct. 21.

Analysts expected a rise of 88 billion to 92 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 4.4 percent above the five-year average of 3.558 trillion cubic feet, and 0.7 percent below last year's level of 3.744 trillion cubic feet, according to the government data.

Natural gas fell 5 cents to $3.543 per 1,000 cubic feet in New York.