US natural gas supplies grew last week

[August 03, 2012]  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 grew by 28 billion cubic feet to 3.217 trillion cubic feet for the week ended July 27.

Analysts expected a rise of 20 billion to 24 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 14.5 percent above the five-year average of 2.810 trillion cubic feet, and 17.2 percent above last year's level of 2.745 trillion cubic feet, according to the government data.

The increase last week compares with an addition of 43 billion cubic feet a year ago and a five-year average build of 56 billion cubic feet.

Natural gas fell 18 cents to $3 per 1,000 cubic feet in New York.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.