United State
On Thursday, natural gas inventories in the United States showed a reading slightly above market expectations, as natural gas inventories rose by 32 billion cubic meters during the week ending last Friday.
This reading is higher than expectations, which indicated an increase of regarding 45 billion cubic meters only, but it is lower than the previous reading, which showed an increase in natural gas stocks by regarding 58 billion cubic meters in the previous week.
Natural gas contracts are trading during trading at a decrease of 2.98% and settled at the level of $7.768 per million thermal units, 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 the commodity market transactions.