US Inventories Climb, but Canadian Spot Gas Still Up

- August 30th, 2012

Reuters reported that higher-than-average temperatures and a lack of short-term supply led to a rise in Canadian spot gas prices despite the fact that US weekly inventories increased unexpectedly.

Reuters reported that higher-than-average temperatures and a lack of short-term supply led to a rise in Canadian spot gas prices despite the fact that US weekly inventories increased unexpectedly.

As quoted in the market news:

Spot gas at the AECO storage hub in southeastern Alberta jumped 16 Canadian cents to average C$2.13 a gigajoule. Deals were done between C$2.10 and C$2.21 a GJ.

The U.S. Energy Information Administration said inventories in the United States rose by 66 billion cubic feet last week, compared with a Reuters survey estimate of 61 bcf.

Click here to read the full Reuters report.

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