Natural Gas reverses after nearing $3 mark, US inventories up 32 BCF

The US Natural Gas futures eased today as WTI Crude oil futures corrected from around seven-week high and comfortable gas storage data in the US led to some profit selling. The Energy Information Administration (EIA) stated today that US Working gas in storage was 3,056 Bcf as of Friday, July 17, 2026. This marks a net increase of 32 Bcf from the previous week. Stocks were 16 Bcf or 0.5% less than last year at this time but 183 Bcf or 6.4% above the five-year average of 2,873 Bcf. At 3,056 Bcf, total working gas is within the five-year historical range. This comfortable level of storage on historical ago basis pulled the counter lower after it almost hit $3 per mmbtu- testing its one-wek high. The commodity currently quotes at $2.88 per mmbtu, down 1.10% on the day. MCX Natural Gas futures are also down 0.91% at Rs 282.20 per mmbtu after falling near Rs 281 mark.

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