Commodities
Natural Gas Inventories Surge, Defying Expectations
US natural gas inventories rose more than expected in the week ended September 4, according to data from the US Energy Information Administration (EIA). The agency reported that natural gas supplies increased by +40 billion cubic feet, exceeding forecasts of a +28 billion cubic feet gain.
This larger-than-expected build suggests that demand for natural gas remains weak, as the summer season limits the need for heating. As a result, pressure is put on natural gas prices.