Breaking: US gas inventories decline for the second consecutive week!

Recent data from the U.S. Energy Information Administration has shown an increase in U.S. natural gas inventories by about 42 billion cubic meters during the week ending November 8, which was worse than expectations that predicted an increase of only 34 billion cubic meters. The reading for the previous week had shown an increase in natural gas inventories by 69 billion cubic meters.

In terms of trading, natural gas futures contracts for December delivery fell today, recording about $2.950 per million British thermal units, a decrease of approximately 1.11%. These data are expected to have a significant impact on future natural gas prices.

It is worth noting that natural gas inventory data is released weekly by the U.S. Energy Administration, measuring the change in underground natural gas inventories in cubic feet over the past week. Although this index is primarily an American indicator, it also affects the Canadian dollar due to the significant size of Canada's energy sector, and it strongly influences natural gas prices in the commodity market.