Natural Gas tumbles 5% on Monday, futures break under $3 per mmbtu mark
05-Aug-2025
11:39
Natural Gas futures extended a losing spree yesterday, adding to recent losses and testing near 9-month low. Milder weather is seen reducing demand and a break under $3 per mmbtu mark seems to have hurt sentiment for the commodity. Natural Gas futures are trading at $2.94 per mmbu, up 0.34% on the day. The counter tanked around 5% in last session and has ensured that overall price action remains lax following a 10% tumble in US Natural Gas futures in last month. Working gas in storage across the United States stood at 3,123 billion cubic feet (BCF) in the week ending July 25, the Energy Information Administration (EIA) revealed in its report released on Thursday. This marked a net increase of 48 BCF compared to the week before. On an annual level, the figure declined by 123 BCF. However, the stockpiles increased by 195 BCF above the five-year average of 2,928 BCF and total working gas was within the five-year historical range. The latest increase was sharply higher compared to 23 BCF in previous week. MCX Natural Gas futures are trading at Rs 258.60 per mmbtu, up 0.74% on the day amid sustained losses in the Indian Rupee. The counter dropped 5% yesterday with a just of 21% in open interest.
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