FX.co ★ US Natural Gas Stocks Rise More Than Expected

U.S. energy companies injected 80 billion cubic feet (bcf) of natural gas into storage in the week ended October 23, surpassing market expectations of a 75 bcf build. This brought total inventories to 3.724 trillion cubic feet, which is 3.8% lower than at the same time last year but 1% above the five-year seasonal average. The latest data followed a 77 bcf injection in the week ended October 16, indicating that storage builds have picked up momentum on a week-over-week basis.