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      Natural Gas off two week high

      MoM Team / Mumbai, Aug 11, 2017 06:13 PM IST

        Natural Gas off two week high

        The MCX Natural Gas futures stayed slightly weak today as global prices eased from a two week high. Markets mostly pressed lower around the globe on the standoff between US and North Korea and Natural Gas futures dropped from highs near $ 3 per mmbtu. The counter currently trades at $2.97 per mmbtu, down 0.37 percent on the day.

        MCX Natural Gas is trading at Rs 191.80 per mmbtu, down marginally on the day. The prices stayed elevated yesterday after the latest Energy Information Administration (EIA) natural gas storage data recorded a build of 28 Billion Cubic feet (Bcf) for the week ending August 4th. The increase was above the 20 Bcf recorded last week, but significantly below consensus forecasts of a 36 Bcf increase.

        Stocks overall are 8.3 percent below the year-ago level and 2.0 percent above the five-year average and the narrowest margin above the 5-year average seen since the first quarter of this year.


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