NEW YORK (AP) -- Natural gas prices are climbing after the government said the nation's supplies fell more than analysts expected last week.
The Energy Information Administration said Thursday that U.S. gas supplies dropped by 132 billion cubic feet. The storage level of 2.97 trillion cubic feet remains well above five-year levels for this time of year, however.
Natural gas futures rose 7 cents, or 2.8 percent, to $2.45 per 1,000 cubic feet in New York. Prices hit a 10-year low last month as supplies grew and demand stayed low.
Meanwhile benchmark crude fell by $1.11 to $96.49 per barrel in New York. Brent crude rose 73 cents to $112.29 per barrel in London.
Retail gasoline prices rose less than a penny to a national average of $3.46 per gallon.
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