Hot Commodities: Natural Gas Futures Jump Nearly 5%

11 Jul 2022 , 02:30 PM

Natural Gas futures jumped today as a bounce from near three month low continued. The commodity surged despite general weakness in equities and commodities as the largest single pipeline carrying Russian gas to Germany began annual maintenance on Monday. While this will not impact the US gas markets directly, the global sentiments for Natural Gas firmed up on excellent buying support and the commodity currently trades up 4.90% at $6.33 per mmbtu. Prices slipped in last session after the Energy Information Administration (EIA) reported a 60 Bcf injection into natural gas storage for the week ending July 1. The EIAs 60 Bcf build was on par with the five-year average. Powered by Commodity Insights