Friday, February 6, 2009

Natural Gas Inventory Down

NEW YORK -- U.S. natural gas inventories fell by 195 billion cubic feet in the week ended Jan. 30, the Energy Information Administration reported Thursday. Analysts at IHS Global Insight had expected a drawdown of 221 billion cubic feet. At 2,179 billion cubic feet, stocks were 60 billion cubic feet higher than last year at this time and 17 billion cubic feet above the five-year average, the EIA reported. After the data, March natural gas futures rose 1.1% to $4.641 per million British thermal units.

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