Natural gas inventory data in the United States today showed a negative reading and came higher than market expectations, as natural gas inventories increased by 111 billion cubic meters during the week ending last Friday.

This reading is higher than the expectations that indicated an increase of about 103 billion cubic meters, and the previous reading had shown an increase in natural gas inventories of about 125 billion cubic meters in the previous week.

Natural gas contracts are trading down by 1.06% during the session and settled at $5.389 per million British thermal units, and these data will have noticeable reflections on natural gas prices in upcoming trading. It is noted that natural gas inventory data are issued weekly by the U.S. Energy Administration, measuring the change in underground natural gas inventories in cubic feet during the past week.

Although this indicator is primarily an American indicator, it affects the Canadian dollar due to the large size of the energy sector in Canada, and it also strongly affects natural gas prices in commodity market trading.