Natural Gas softens after recent surge, MCX futures fall under Rs 300 per mmbtu

US natural gas futures fell today after hitting around one and half month high in last session. The counter rose as markets eyed media reports estimating warmer weather over the next two weeks. The benchmark Natural Gas futures zoomed around 3% and stayed above $3 per mmbtu mark. However, a modest drop in the crude oil prices weighed on the counter and the commodity currently trades down 1.16% at $3.07 per mmbtu. The United States is set to witness record-breaking industrial natural gas consumption in the coming years. According to the US Energy Information Administration's (EIA) Short-Term Energy Outlook, industrial usage of natural gas averaged an unprecedented 23.6 billion cubic feet per day in 2025, surpassing previous records. This has supported prices in last few days. MCX Natural Gas futures dropped 0.40% at Rs 298.20 per mmbtu right now with a fall under Rs 300 per mmbtu mark leading to selling pressure.

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