Natural Gas Hits $7 Per Barrel, Rises From Two And Half Month Low

26 Sep 2022 , 01:09 PM

The US Natural Gas futures moved up from a two and half month low today despite the overall selling in equities. The US natural gas futures fell about 4% on Friday on a drop in crude prices and expectations the weather will remain mild into early October. In addition, the US National Hurricane Center (NHC) projected that Tropical Depression 9 will strengthen into a hurricane as it moves from the Caribbean Sea to the Gulf of Mexico over the next few days. Some bargain buying emerged today in the commodity today though and the counter currently trades at $7 per mmbtu, up 2.55% on the day. The MCX Natural futures are trading at Rs 575.20 per mmbtu, up 0.56% on the day. Powered by Commodity Insights