Natural Gas zooms above $3 per mmbtu mark as market eyes US inventories

US natural gas futures jumped as markets eyed hot weather forecasts in the US. The benchmark futures broke above $3 per mmbtu mark to test highest levels in nearly three-weeks and currently trades at $3.02 per mmbtu, up 2.16% on the day. Futures jumped around 4.55% in last session. Natural Gas will now eye weekly storage data from the US Energy Information Administration (EIA) which is due to come out tomorrow. MCX Natural Gas is up 2.88% at Rs 307.30 per mmbtu. MCX Natural gas futures surged 3.18% in last session with a 6% spike in open interest.

Powered by Commodity Insights