Hot Commodities: Natural Gas softens in Asia after hitting three-week top

The US natural gas futures soared around 3% to hit fresh three-week high on Monday as markets eyed soaring crude oil prices and recent losses in Natural Gas futures triggered bargain buying. The commodity has mostly stayed in a range recently amid mild weather trends and lost around 4% in April. The counter slipped in Asia today and currently trades down 1% at $2.83 per mmbtu. MCX Natural Gas futures are trading at Rs 269.60 per mmbtu, down 1.79% on the day. Meanwhile, the EIA, in its latest weekly update showed a net increase of 79 Bcf in US natural gas inventories as of April 24, 2026. Working gas in storage was 2,142 Bcf as of Friday, April 24, 2026, according to EIA estimates. This represents a net increase of 79 Bcf from the previous week. Stocks were 116 Bcf higher than last year at this time and 153 Bcf above the five-year average of 1,989 Bcf. EIA noted that total working gas is within the five-year historical range.

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