US natural gas supplies grew last week

AP News
Posted: Jun 14, 2012 10:54 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 67 billion cubic feet to 2.944 trillion cubic feet for the week ended June 8.

Analysts expected a rise of 71 billion to 75 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 29.2 percent above the five-year average of 2.278 trillion cubic feet, and 31.7 percent above last year's level of 2.236 trillion cubic feet, according to the government data.

Natural gas rose 16 cents, or 7.5 percent, to $2.35 per 1,000 cubic feet in New York.