US natural gas supplies grew last week

AP News
Posted: Oct 04, 2012 10:51 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 77 billion cubic feet to 3.653 trillion cubic feet for the week ended Sept. 28.

Analysts expected a rise of 70 billion to 74 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 8.3 percent above the five-year average of 3.372 trillion cubic feet, and 8 percent above last year's level of 3.381 trillion cubic feet, according to the government data.

Natural gas futures rose 2 cents to $3.41 per 1,000 cubic feet in New York.