Natural Gas sees persistent weaknes, inventories in focus

The US natural gas futures continued to drop as demand appears tepid and US gas storage is now comfortably above the five-year levels. The futures are currently quoting at $3.12 per mmbtu, down 0.67% on the day. Focus will shift to tomorrow?s EIA weekly gas storage data. These are the lowest levels in nearly six-weeks for the counter. Meanwhile, equities are mixed today. In Asia, China's Shanghai Composite index jumped 0.83%. Hong Kong's Hang Seng index soared 1.37% on firm moves in tech counters. Japan?s Nikkei 225 index added 0.30%. European stocks eased marginally. The US stocks turned mostly lower on Tuesday. The tech-heavy Nasdaq lost 1% while the S&P 500 slid 0.6%. Dow shed 0.2%. On the MCX, Natural Gas futures are trading down 0.86% at Rs 277.20 per mmbtu as a drop under Rs 280 mark extended.

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