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Commodity News Details
Natural Gas slippery as futures back off two year high
26-Dec-2024 17:18
Natural Gas futures succumbed to heavy selling pressure today after recent spike. The counter has hit around two year high near $4 mmbtu earlier in the week before pulling back as traders eyed the upcoming US EIA gas storage data and some yearend selling triggered a sizable fall in prices. The benchmark Natural Gas futures are down 2.23% at $3.88% today. MCX Natural Gas futures are also down 2.15% at Rs 291 per mmbtu after testing a low of Rs 290.20 per mmbtu. The counter had lost around 5% in last session. Global prices have been on a tear recently as market focused on a rise in the amount of gas flowing to liquefied natural gas export plants in the US.

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