US natural gas supplies grew last week

AP News
Posted: Sep 06, 2012 10:55 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 28 billion cubic feet to 3.402 trillion cubic feet for the week ended Aug. 31.

Analysts expected a rise of 32 billion to 36 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 10.7 percent above the five-year average of 3.073 trillion cubic feet, and 13.1 percent above last year's level of 3.007 trillion cubic feet, according to the government data.

Natural gas futures lost 1 cent to $2.79 per 1,000 cubic feet in New York.