US natural gas supplies grew last week

AP News
Posted: Nov 23, 2011 12:08 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 9 billion cubic feet to 3.852 trillion cubic feet for the week ended Nov. 18.

Analysts expected a rise of 18 billion to 22 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 6.4 percent above the five-year average of 3.619 trillion cubic feet, and 0.6 percent above last year's level of 3.829 trillion cubic feet, according to the government data.

Natural gas futures rose 5 cents to $3.46 per 1,000 cubic feet in New York.