NEW YORK (AP) — The nation's natural gas supplies shrank last week, the government said Thursday.
The Energy Department's Energy Information Administration reported that natural gas in storage fell by 118 billion cubic feet to 2.684 trillion cubic feet for the week ended Feb. 1.
Analysts expected a rise of 122 billion to 126 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The inventory level was 15 percent above the five-year average of 2.333 trillion cubic feet, and 7.8 percent below last year's level of 2.910 trillion cubic feet, according to the government data.
Natural gas futures fell 8 cents to $3.33 per 1,000 cubic feet in New York.