Natural Gas consolidates around two-month high, EIA storage up 95 BCF

Natural Gas futures are witnessing steady moves after a sharp rally in last session but elevated US storage levels are capping the upside. The US Energy Information Administration released its weekly natural gas storage report on June 4, 2026, covering data for the week ending May 29, 2026. It noted that working gas in underground storage across the Lower 48 states totaled 2,578 billion cubic feet (Bcf), marking a net weekly increase of 95 Bcf compared to the prior week. Current inventories are 3 Bcf lower than the level recorded at the same time last year. However, stocks stand 138 Bcf above the five-year average of 2,440 Bcf. The EIA noted that total working gas remains within the five-year historical range. The counter moved up around 4% as weather linked demand supported sentiments but the counter turned lower on Friday as prices approached around four-month high before easing. The commodity currently trades down 0.36% at $3.32 per mmbtu. On MCX, Natural Gas futures are trading at Rs 316.70 per mmbtu, down 1.65% on the day. The counter zoomed near Rs 323 per mmbtu in morning trades before easing.

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