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

U.S. utilities increased natural gas storage by 55 billion cubic feet (bcf) for the week ending June 27, raising total reserves to 2.953 trillion cubic feet (tcf). This addition surpassed market predictions of 53 bcf and is higher than both the 35 bcf increase recorded during the same period last year and the five-year average of 61 bcf. This occasion marked the 11th straight week where energy firms contributed more significantly than typical to net injections into storage.