Urgent: U.S. gas stocks are positive and better than expected.
Data from the U.S. Energy Information Administration, released on Thursday, showed that U.S. natural gas inventories increased by about 78 billion cubic meters during the week ending on October 25, which was better than the expectations that projected an increase of about 81 billion cubic meters. The previous week's reading showed an increase in natural gas inventories of 80 billion cubic meters.
In trading, immediately after the release of this data, natural gas futures for December delivery rose during today's trading, reaching approximately $2.760 per million British thermal units, reflecting an increase of about 2.99%.
It is noteworthy that natural gas inventory data are published weekly by the U.S. Energy Administration. The indicator measures the change in underground natural gas inventories in cubic feet during the past week. Additionally, although this measure is fundamentally American, it impacts the Canadian dollar due to the size of the energy sector in Canada, and it also strongly affects natural gas prices in commodity market trading.