FX.co ★ US Natural Gas Stocks Rises the Most in 11 Months

During the week ending April 18th, U.S. utilities increased their gas storage by 88 billion cubic feet, reaching a total of 1.934 trillion cubic feet. This figure significantly surpassed market expectations of a 65 billion cubic feet increase and represents the most substantial build-up in nearly a year. The surge in gas storage aligns with reports indicating record-high gas production in the U.S., coinciding with warmer weather following the northern winter. Despite this increase, gas stocks are still 19.8% higher than they were at the same time last year but remain 2.2% below the five-year moving average. The largest increases in gas storage were observed in the South Central region, with a 47 billion cubic feet rise, and in the Midwest, with an increase of 23 billion cubic feet.