US natural gas supplies shrank last week

Last Updated: Thu, Feb 14, 2013 16:15 hrs

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 declined by 157 billion cubic feet to 2.527 trillion cubic feet for the week ended Feb. 8.

Analysts expected a draw of 160 billion to 164 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 16 percent above the five-year average of 2.179 trillion cubic feet, and 9.7 percent below last year's level of 2.797 trillion cubic feet, according to the government data.

Natural gas fell 13 cents to $3.17 per 1,000 cubic feet in New York.

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