Hot Commodities: Natural Gas rebounds after crashing 4% on Monday

Natural Gas futures are up today after a sharp slide in the last session. The US natural gas futures tanked around 4% on Monday, sliding from a five-week high as markets eyed near term demand amid elevated inventories. Before this slide, the commodity had spiked around 30% over the past two weeks. Focus is now shifting to the weather trends in the US which are showing cooling demand for Natural Gas due to warm temperatures. The US Natural gas stocks are about 3% above the five-year normal, pulling down the prices. However, the counter rose today amid a good rally in commodities and the benchmark Natural Gas futures for June delivery on the New York Mercantile Exchange are up 2%, to trade at $3.71 per million British thermal units (mmbtu). On the MCX, Natural Gas futures are up 1.90% at 315.90 per mmbtu as the counter managed to hold gains after a firm opening.

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