US natural gas supplies shrank last week

[January 18, 2013]  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 dropped by 148 billion cubic feet to 3.168 trillion cubic feet for the week ended Jan. 11.

Analysts expected a draw of 137 billion to 141 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 11.1 percent above the five-year average of 2.852 trillion cubic feet, and 4.4 percent below last year's level of 3.315 trillion cubic feet, according to the government data.

Natural gas fell 2 cents to $3.42 per 1,000 cubic feet in New York.

[Associated Press]

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