| Natural Gas futures tested a three-week low yesterday, adding to recent losses and stays under pressure today as well. Working gas in storage across the United States stood at 3,123 billion cubic feet (BCF) in the week ending July 25, the Energy Information Administration (EIA) revealed in its report released on Thursday. This marked a net increase of 48 BCF compared to the week before. On an annual level, the figure declined by 123 BCF. However, the stockpiles increased by 195 BCF above the five-year average of 2,928 BCF and total working gas was within the five-year historical range. The latest increase was sharply higher compared to 23 BCF in previous week and seems to be keeping the commodity under stress. A firm undertone in the US dollar and slippery crude oil is also weighing on sentiments. US Natural Gas futures are trading at $3.09 per mmbu, down 0.39% on the day. MCX Natural Gas futures are trading at Rs 271.50 per mmbtu, down 0.11% on the day. Powered by Commodity Insights |