US natural gas supplies shrank last week

[January 05, 2013]  NEW YORK (AP) -- The nation's natural gas supplies fell last week, the government said Friday.

The Energy Department's Energy Information Administration reported that natural gas in storage dropped by 135 billion cubic feet to 3.517 trillion cubic feet for the week ended Dec. 28.

Analysts expected a decline of 133 billion to 137 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 12.4 percent above the five-year average of 3.128 trillion cubic feet, and 0.7 percent above last year's level of 3.494 trillion cubic feet, according to the government data.

Natural gas futures rose 5 cents to $3.27 per 1,000 cubic feet in New York.

[Associated Press]

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