US natural gas supplies shrank last week

AP News
Posted: Nov 15, 2012 10:56 AM

NEW YORK (AP) — The nation's natural gas supplies fell last week, the government said Thursday.

The Energy Department's Energy Information Administration reported that natural gas in storage shrank by 18 billion cubic feet to 3.911 trillion cubic feet for the week ended Nov. 9. It was the first weekly decline in supplies this year.

Analysts expected a decline of 10 billion to 14 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 5.6 percent above the five-year average of 3.702 trillion cubic feet, and 1.8 percent above last year's level of 3.840 trillion cubic feet, according to the government data.

Natural gas futures fell 4 cents to $3.84 per 1,000 cubic feet in New York.