Canadian Natural Gas Rises Alongside US Futures

Bloomberg reported that Canadian natural gas prices increased along with US futures following the US Department of Energy’s news that gas stockpiles rose to 3.576 trillion cubic feet, an 80 billion cubic feet increase.

As quoted in the market news:

October gas in Alberta rose 1.4 percent as department data showed the weekly storage injection was above the five-year seasonal average of 76 billion cubic feet while below last year’s 104 billion, keeping inventories at record highs for this time of year. U.S. gas prices advanced 2.6 percent to the most in 2012.

Alberta gas for October delivery rose 3.5 cents to C$2.525 per gigajoule ($2.44 per million British thermal units) as of 3:25 p.m. New York time.

Natural gas for November delivery on the New York Mercantile Exchange rose 8.2 cents to settle at $3.297 per million British thermal units, the highest level since Dec. 9.

Click here to read the full Bloomberg report.