US natural gas supplies grew last week

AP News
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Posted: Nov 17, 2011 12:37 PM
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 19 billion cubic feet to 3.850 trillion cubic feet for the week ended Nov. 11.

Analysts expected a rise of 23 billion to 27 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 6.2 percent above the five-year average of 3.626 trillion cubic feet, and 0.4 percent above last year's level of 3.836 trillion cubic feet, according to the government data.

Natural gas rose 3 cents to $3.380 per 1,000 cubic feet in New York.