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Natural Gas in Storage Fell Last Week

Thursday December 6

Energy Dept. Report Says U.S. Natural Gas in Storage Fell by 88 Billion Cubic Feet Last Week

WASHINGTON (AP) -- Natural gas in storage in the U.S. fell last week but is about 8.6 percent above the five-year average for this time of year, a government report said Thursday.

The Energy Department's Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states fell by 88 billion cubic feet to 3.44 trillion cubic feet for the week ending Nov. 30.

The inventory level was well above the five-year average of about 3.17 trillion cubic feet in underground storage, and ahead of last year's storage level of 3.41 trillion cubic feet, according to the government data.

In morning trading, natural gas for January delivery rose 22 cents to $7.41 per 1,000 cubic feet on the New York Mercantile Exchange.