23-Jan-2026 11:20

Natural Gas futures are witnessing an enormous spurt this week as freezing conditions in the US are pushing prices up at a breakneck pace. Yesterday, the benchmark US natural gas futures at Henry Hub, zoomed around 15% in intraday moves to test three-year high of $5.65 per million British thermal units (mmbtu), taking the last three-day gains to nearly 80%. The counter eased thereafter though as focus shifted to the US gas inventories and prices broke under $5 per mmbtu mark today. It currently trades at $4.85 per pound, down 3.60% on the day. Working natural gas in storage across the United States decreased by 120 billion cubic feet (Bcf) in the week ending January 16 to reach 3,065 Bcf, according to the Energy Information Administration's (EIA) report on Thursday. The storage is up 4.82% compared to year ago levels. Overall momentum appears supportive for the counter after this week's massive spike as it is expected that arctic air mass will likely move into the central and eastern United States during the first week of February. On the MCX, Natural Gas futures are trading down 4% at Rs 444.90 per mmbtu. The counter rallied around 5.56% in last session with a 7.5% decline in the open interest.

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