According to the U.S. Energy Information Administration’s recent data release, U.S. natural gas inventories went up by roughly 78 billion cubic meters for the week ending October 25. This figure came in just under market expectations, which had anticipated a slightly larger build of about 81 billion cubic meters. By comparison, the prior week saw an 80 billion cubic meter increase.
Following this update, natural gas futures for December experienced a rise, trading at approximately $2.760 per million British thermal units, marking a notable 2.99% increase on the day. This shift suggests the market’s sensitivity to inventory reports, particularly when numbers fall below predictions.
Natural gas inventory reports are published every week by the U.S. Energy Information Administration. This data point tracks the weekly changes in underground natural gas storage, measured in cubic feet. While the inventory data is primarily American, it often influences the Canadian dollar due to Canada’s significant energy sector. It also frequently affects natural gas pricing trends within global commodity markets.
Diversified Energy Company plc (LON:DEC) is an independent energy company engaged in the production, marketing, transportation and retirement of primarily natural gas and natural gas liquids related to its U.S. onshore upstream and midstream assets.
