US natural gas supplies grew last week

AP News
Posted: Jun 07, 2012 10:43 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 62 billion cubic feet to 2.877 trillion cubic feet for the week ended June 1.

Analysts expected a rise of 53 billion to 57 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 31.4 percent above the five-year average of 2.190 trillion cubic feet, and 32.9 percent above last year's level of 2.164 trillion cubic feet, according to the government data.

Natural gas futures fell 10 cents to $2.33 per 1,000 cubic feet in New York.