Natural Gas gains ahead of US inventories data

Natural Gas Futures are witnessing some support around $2.60 per million British thermal units, recovering from 18-month low. A steady uptick in crude oil prices after recent slide clubbed with weakness in the US dollar index is supporting the commodity. US weekly Natural Gas storage data will be released today and the counter is likely to see choppy moves before that. On MCX, Natural Gas futures are trading at Rs 246.10 per mmbtu, up 0.61% on the day after hitting a high of around Rs 247 per mmbtu. The counter had started on a negative note, testing lows near Rs 243 mark on a repeated basis.

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