US natural gas supplies grew last week

[July 20, 2012]  NEW YORK (AP) -- The nation's natural gas supplies rose last week, the government said Thursday.

The Energy Department's Energy Information Administration said in its weekly report that natural gas in storage grew by 28 billion cubic feet to 3.163 trillion cubic feet for the week ended July 13.

That compares to a build of 67 billion cubic feet in the same week last year and the five-year average increase of 74 billion cubic feet.

Analysts expected a rise of 28 billion to 32 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 17.5 percent above the five-year average of 2.693 trillion cubic feet, and 19.2 percent above last year's level of 2.654 trillion cubic feet, according to the government data.

Natural gas futures rose 4 cents to $2.99 per 1,000 cubic feet in New York.

[Associated Press]

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