US natural gas supplies grew last week

AP News
Posted: Aug 16, 2012 11:25 AM
US natural gas supplies grew last week

NEW YORK (AP) — 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 20 billion cubic feet to 3.261 trillion cubic feet for the week ended Aug. 10.

Analysts expected a rise of 22 billion to 26 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 12.5 percent above the five-year average of 2.898 trillion cubic feet, and 15.7 percent above last year's level of 2.819 trillion cubic feet, according to the government data.

Natural gas futures fell 1 cent to $2.74 per 1,000 cubic feet in New York.