FX.co ★ US Natural Gas Storage Rises More than Expected

U.S. utilities increased their natural gas reserves by 122 billion cubic feet, bringing the total to 2.598 trillion cubic feet for the week ending May 30. This addition surpassed market expectations of 111 billion cubic feet and continues the trend of boosting gas reserves in preparation for the upcoming North American summer. Although the storage levels have risen, they are still 10% below the figures from the same period last year but stand 4.7% higher than the five-year average.