(24 Oct 2024, 12:04)

Hot Commodities: Natural Gas spikes ahead of inventories, MCX futures break above Rs 200 levels

Natural Gas futures are witnessing impressive gains after a recent bounce from one month low. The commodity is rising despite firm US dollar and volatile crude oil prices as markets focus on near term demand scenario. The US Natural Gas futures are currently trading up 2.35% at $2.39 per mmbtu, holding around one week high. The futures soared more than 1% yesterday but saw some intraday correction amid weak cues from equities. The US stocks eased yesterday as major averages all moved notably lower, with the Dow and the S&P 500 extending their losing streaks to three days. Sentiments appear steady ahead of the release of US Natural Gas storage data later on today. On the MCX, Natural Gas futures are trading at Rs 201.20 per mmbtu, up 3.44% on the day after hitting a high of Rs 202.20 per mmbtu.

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Hot Commodities: Natural Gas spikes ahead of inventories, MCX futures break above Rs 200 levels