The amount of natural gas in storage in the U.S. fell last week and is about 8.4 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 9 billion cubic feet to about 3.54 trillion cubic feet for the week ending Nov. 9.
The inventory level was well above the five-year average of more than 3.26 trillion cubic feet in underground storage, and ahead of last year''s storage level of 3.45 trillion cubic feet, according to the government data.
In morning trading on the New York Mercantile Exchange, natural gas for December delivery fell 13.8 cents to $7.702 per 1,000 cubic feet.
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