Natural Gas Gets On Boost On Bargain Buying

8 Dec 2022 , 02:50 PM

The US Natural Gas futures gained impressively today as bargain buying supported the commodity after recent losses that took the commodity to six week low. The commodity saw a tumble earlier this week after breaking under $6 per mmbtu as traders eyed forecasts for less cold weather in the US over coming days. Prices also stayed under stress as Freeport LNG delayed the expected restart of its export plant to the end of the year from mid-December, pending regulatory approval. However, these steep losses finally gave way to decent buying support and the commodity currently quotes at $5.77 per mmbtu, up 0.84% on the day. Sentiments were also driven by sustained worries over the Russia-Ukraine war as Russian President Vladimir Putin said the threat of a nuclear war was rising. Powered by Commodity Insights