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 127 billion cubic feet to 2.400 trillion cubic feet for the week ended Feb. 15.
Analysts expected a draw of 117 billion to 121 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.
The inventory level was 17.7 percent above the five-year average of 2.039 trillion cubic feet, and 9.2 percent below last year's level of 2.642 trillion cubic feet, according to the government data.
Natural gas futures rose 1 cent to $3.28 per 1,000 cubic feet in New York.