The dollar value of two-way oil and natural gas trade between Canada and the United States swelled last year to a record $190 billion, as global markets reacted to Russia’s invasion of Ukraine, according to federal researchers.

Inflation-adjusted records showed that last year’s energy trade overall between the United States and Canada topped the 2008 record of $178 billion, rising 41% from $134 billion in 2021.

Specifically for natural gas, traded volumes “remained similar to 2021,” but “the 2022 trade value increased,” the U.S. Energy Information Administration (EIA) noted in a recent report using U.S. Census Bureau data.

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