Natural Gas sustains losses, EIA storage up 110 BCF
16-May-2025
16:10
Natural Gas futures slumped amid elevated US storage and cautious near-term demand. Weakness in crude oil also weighed. The Energy Information Administration or EIA stated in its Weekly Natural Gas Storage Report yesterday that working gas in storage increased by 110 billion cubic feet or Bcf from the previous week. At 2245 BCF, stocks are down 14.6% y/y and 2.6% above their 5-year seasonal average. This pulled the futures lower, adding to latest losses. The counter eased further today and currently trades at $3.32 per mmbtu, down 1.10% on the day and testing two- and half-week lows. MCX Natural Gas futures are also down 2.10% at Rs 285.90 per mmbtu.
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