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olesmokeron Feb 14, 2008 12:35pm
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Post# 14373351
Natural Gas Rises as Supplies Decline More Than Fo
Natural Gas Rises as Supplies Decline More Than FoNymex Natural Gas Rises as Supplies Decline More Than Forecast
By Mario Parker
Feb. 14 (Bloomberg) -- Natural gas in New York rose after a government report showed U.S. supplies fell more than analysts forecast.
Stockpiles fell 120 billion cubic feet to 1.942 trillion cubic feet for the week ended Feb. 8, the U.S. Energy Department report at 10:30 a.m. showed.
Analysts had forecast a withdrawal of 117 billion cubic feet, according to the median of 21 analyst estimates compiled by Bloomberg.
Gas for March delivery rose 26.7 cents, or 3.2 percent, to $8.655 per million British thermal units at 10:32 a.m. on the New York Mercantile Exchange. Futures had traded at $8.54 before release of the report.
To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net .
Last Updated: February 14, 2008 10:34 EST