US natural gas supplies grew last week

AP News
Posted: May 03, 2012 10:35 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 reported that natural gas in storage grew by 28 billion cubic feet to 2.576 trillion cubic feet for the week ended April 27.

Analysts expected a rise of 30 billion to 34 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 49.9 percent above the five-year average of 1.719 trillion cubic feet, and 48.4 percent above last year's level of 1.736 trillion cubic feet, according to the government data.

Natural gas rose 10 cents to $2.36 per 1,000 cubic feet in New York.