It was reported today that the natural gas in storage in the United States grew last week and is approximately 8.9 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 that are being held in underground storage in the lower 48 United States increased by 36 billion cubic feet to about 3.55 trillion cubic feet for the week ending November 2, 2007.
The natural gas inventory level was well above the five-year average of more than 3.25 trillion cubic feet in underground storage, and ahead of the year-ago level of 3.45 trillion cubic feet as well, according to the government data.
In morning trading, natural gas for December delivery fell more than a penny to about $7.61 per 1,000 cubic feet on the New York Mercantile Exchange.
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