MCX Natural Gas breaks above Rs 270 per mmbtu, US storage in focus

Natural Gas futures are stabilizing after a good recovery in last session. The commodity gained around 1.8% yesterday, recovering from one-month low and is currently trading at $2.85 per mmbtu, down by around the same magnitude. However, the US Natural Gas weekly inventories data is due tomorrow and some support is emerging in the counter. MCX Natural Gas futures are quoting at Rs 272 per mmbtu, down 1.63% on the day but well off its intraday lows. The counter broke above Rs 270 per mmbtu mark some time back and edged higher. Lows around Rs 270 mark had capped losses in last session as well.

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