Hot Commodities: Natural Gas hits eight month high as demand boosts sentiments, prices up 10% in Nov-25

The US natural gas futures eased a bit after sharp rally in last few sessions. The commodity soared to eight-month high yesterday, spiking around 5% as hefty flows to liquefied natural gas (LNG) export plants boosted demand for the commodity. The US Energy Information Administration (EIA) said energy firms injected 33 billion cubic feet (Bcf) of gas into storage during the week ended October 31. However, this was lower compared to average build of 42 Bcf over the past five years. The commodity managed to break well above $4 per mmbtu following this, adding to the near 24% surge in last month. The counter currently quotes down 1% at $4.51 per mmbtu and has added around 10% this month.

Powered by Commodity Insights