US natural gas supplies shrank last week

AP News
Posted: Apr 04, 2013 10:46 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 94 billion cubic feet to 1.687 trillion cubic feet for the week ended March 29.

Analysts expected a draw of 90 billion to 94 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 2.1 percent below the five-year average of 1.724 trillion cubic feet, and 31.6 percent below last year's level of 2.466 trillion cubic feet, according to the government data.

Natural gas futures fell 2 cents to $3.88 per 1,000 cubic feet in New York.