US natural gas supplies grew last week

[June 22, 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 62 billion cubic feet to 3.006 trillion cubic feet for the week ended June 15.

Analysts expected a rise of 63 billion to 67 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 27.1 percent above the five-year average of 2.365 trillion cubic feet, and 29.2 percent above last year's level of 2.326 trillion cubic feet, according to the government data.

Natural gas futures rose 7 cents to $2.59 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 This material may not be published, broadcast, rewritten or redistributed.