US natural gas supplies grew last week

AP News
Posted: Nov 03, 2011 11:13 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 78 billion cubic feet to 3.794 trillion cubic feet for the week ended Oct. 28.

Analysts expected a rise of 69 billion to 73 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 5.6 percent above the five-year average of 3.593 trillion cubic feet, and 0.4 percent below last year's level of 3.811 trillion cubic feet, according to the government data.

Natural gas rose 7 cents to $3.82 per 1,000 cubic feet in New York.