US natural gas stocks rise by 15 billion cubic meters

US natural gas inventories recorded reading in line with market expectations this week, as natural gas inventories rose by 15 billion cubic meters during the week ending last Friday.

This reading is in line with market expectations. This reading is worse than the previous reading, which showed a decrease in natural gas stocks by about 33 billion cubic meters in the previous week.

Natural gas contracts are trading at an increase of 2.19% and settled at the level of 7.150 dollars per million thermal units, with the continuation of the Russian invasion of Ukraine, and this data will have noticeable repercussions on natural gas prices in the upcoming trading.

It should be noted that natural gas inventories data is released on a weekly basis by the US Energy Administration, and measures the change in underground natural gas inventories in cubic feet over the past week. Although this indicator is mainly an American indicator, it affects the Canadian dollar due to the large size of the energy sector in Canada, and it also strongly affects the prices of natural gas in commodity market transactions.