Natural Gas tumbles further amid rising inventories, MCX futures under Rs 260 mark

Natural Gas futures fell further as a break under $3 per mmbtu mark extended on worries over mild weather in the US reducing domestic space-heating demand. Media reports are highlighting above-normal temperatures across key US heating markets through late October, curbing heating degree days and delaying seasonal residential space-heating demand. Elevated US inventories are also weighing on the counter. The US working natural gas in storage was 3,644 Bcf as of Friday, October 16, 2026, according to EIA estimates, marking a net increase of 77 Bcf from the previous week. The benchmark futures currently trade at $2.72 per mmbtu, down 2.50% on the day and is near two-and-half month low. MCX Natural Gas futures currently trade at Rs 259.80 per mmbtu, down 3.10% on the day.

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