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Commodity News Details
Natural Gas slumps more than 4% as markets eye US storage data
03-Jan-2025 17:52
Natural Gas futures stayed weak amid mostly tepid cues from global equities. Traders waited for the EIA weekly gas storage data and pulled the counter near a one week low. The benchmark Natural Gas futures are currently quoting at $3.49 per mmbtu, down around 4.60% on the day. The commodity has gone up in recent weeks, clocking gains of around 24% and 8% in December and November respectively. EIA data showed last week that working gas in storage in the US decreased by 93 Bcf from the previous week. At current levels, stocks are 166 Bcf above the five-year average for this time of the year, EIA had noted.

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