US natural gas supplies grew last week

AP News
Posted: May 31, 2012 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 reported that natural gas in storage grew by 71 billion cubic feet to 2.815 trillion cubic feet for the week ended May 25.

Analysts expected a rise of 67 billion to 71 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 34.6 percent above the five-year average of 2.091 trillion cubic feet, and 35.1 percent above last year's level of 2.083 trillion cubic feet, according to the government data.

Natural gas futures fell 1 cent to $2.41 per 1,000 cubic feet in New York.