FX.co ★ US Natural Gas Stockpiles Increase more than Expected

In the week ending August 8th, U.S. utilities added 56 billion cubic feet of natural gas to storage, bringing the total to 3.186 trillion cubic feet. This figure surpassed market expectations, which had predicted a 53 billion cubic foot increase, and was significantly higher than the comparable weeks of the previous year. As a result of this storage addition, current levels stand 6.6% above the five-year average, although they remain 2.4% lower compared to the same period last year.