Natural Gas Slippery, MCX Futures Slide More Than 1%

Natural Gas Slippery, MCX Futures Slide More Than 1%

Oct 25, 2019 06:10 IST capital market

Natural Gas futures stayed slippery today as profit selling took charge of the sentiments. Working gas in storage was 3,606 Bcf as of Friday, October 18, 2019, according to Energy Information Administration (EIA) estimates. This represented a net increase of 87 Bcf from the previous week. Stocks were 519 Bcf higher than last year at this time and 28 Bcf above the five-year average of 3,578 Bcf. At 3,606 Bcf, total working gas is within the five-year historical range. The benchmark Natural Gas futures are trading at $2.28 per mmbtu, down 1.17% on the day. MCX Natural Gas futures are also down 1.15% at Rs 162.90 per mmbtu.

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