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Commodity News Details
Natural Gas zooms 6% to hit 11 month high as US weather set to fuel demand
21-Nov-2024 17:28
Natural Gas futures spiked today, adding to latest gains as a bounce above $3 per mmbtu continued. Equities are mixed and US dollar is holding around one year high but Natural Gas futures moved up sharply in anticipation of a pick-up in demand owing to colder temperature forecasts for late November into early December. The commodity trades up 6.20% at $3.39 per mmbtu, hitting highest levels in nearly 11 months. Prices had seen a similar uptick in last session too. Meanwhile, in Asia, China's Shanghai Composite index ended flat. Hong Kong's Hang Seng index fell 0.53%. Japanese Nikkei index lost 0.85%. European markets fell with French CAC index shedding more than 0.50%. US stocks saw weakness throughout much of the session yesterday before witnessing a recovery in late trades and ended on modestly positive note.

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