Commodities Buzz: Natural Gas Hits One Week High

29 Jun 2022 , 02:05 PM

The US Natural Gas futures spiked in last few sessions and hit a one week high near $6.83 per mmbtu today as traders eyed global demand trends. Global natural gas demand rose 5.3% in 2021, recovering above pre-pandemic 2019 levels and crossing the 4 trillion cubic meter (Tcm) mark for the first time, British Petroleum (BP) reported in a latest update. This pushed up the commodity after a wild selling spree that took it near a three month low in last week. The MCX Natural Gas futures also moved up on bullish global cues and currently trade at Rs 537.20 per mmbtu, up 1% on the day.Powered by Commodity Insights