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Natural Gas in Storage Fell Last Week

Thursday February 7, 10:40 am ET

Energy Dept. Report Says U.S. Natural Gas in Storage Fell by 200 Billion Cubic Feet Last Week

WASHINGTON (AP) -- Natural gas in storage in the U.S. fell last week and is 3.1 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 200 billion cubic feet to about 2.06 trillion cubic feet for the week ending Feb. 1.

The inventory level was above the five-year average of about 2 trillion cubic feet in underground storage, but below last year's storage level of roughly 2.38 trillion cubic feet, according to the government data.

In morning trading, natural gas for March delivery rose more than 8 cents to about $8.08 per 1,000 cubic feet on the New York Mercantile Exchange.