US natural gas supplies fell last week

AP News
Posted: Feb 28, 2013 10:52 AM

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 dropped by 171 billion cubic feet to 2.229 trillion cubic feet for the week ended Feb. 22.

Analysts expected a drop of 166 billion to 170 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 16 percent above the five-year average of 1.921 trillion cubic feet, and 12.1 percent below last year's level of 2.536 trillion cubic feet, according to the government data.

Natural gas futures rose 4 cents to $3.52 per 1,000 cubic feet in New York.