Natural Gas extends gains to hit two-week high

US natural gas futures are rising after recent spell of losses. The counter eased last week amid deep losses in crude oil and mixed US weather outlooks. The benchmark futures tested lowest since October 2024 before edging higher. The counter moved up steadily in Asian trades today as WTI Crude oil raced up as tensions escalated over Strait of Hormuz after attacks on commercial ships. Natural Gas futures are currently trading at $2.72 per mmbtu, up 1.76% on the day and hitting around two-week high. The counter has lost around 5.60% this month and has largely been trending lower this year. MCX Natural Gas futures are currently trading at Rs 253.30 per mmbtu, up 1.24% on the day. It opened higher and added gains throughout the morning trades. The counter had gained 1.46% in last session.

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