US natural gas supplies grew last week

AP News
Posted: Aug 30, 2012 10:50 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 66 billion cubic feet to 3.374 trillion cubic feet for the week ended Aug. 24.

Analysts expected a rise of 58 billion to 62 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 12 percent above the five-year average of 3.013 trillion cubic feet, and 14.6 percent above last year's level of 2.945 trillion cubic feet, according to the government data.

Natural gas futures rose 3 cents to $2.71 per 1,000 cubic feet in New York.