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Commodity News Details
Natural Gas Slumps From Three And Half Month High
09-May-2024 17:33
Natural Gas futures slumped today, sliding from a three and half month high as market participants geared up for tomorrow?s weekly US Natural Gas storage data. The commodity has gone up recently but seems to be correcting ahead of the critical data. The US Natural Gas futures are trading at $2.15 per mmbtu, down 1.42% on the day. Demand has been increasing on operational resumption of Freeport LNG plant in Texas. Meanwhile, last week, the US Energy Information Administration or EIA stated that working natural gas in storage across the United States rose by 59 billion cubic feet in the week ending April 26 compared to the previous week to reach 2,484 billion cubic feet. On an annual level, the figure advanced by 436 billion cubic feet.

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