Natural Gas Spikes To Two Week High On US Demand Hopes

16 Feb 2022 , 02:26 PM

The US Natural Gas futures spiked for a third session as firm heating demand outlook boosted the sentiments. Media reports noted that heavy snow and strong winds will accompany a cross-country winter storm in the US Midwest this week. The storm system will combine with a sprawling high-pressure system over the western Atlantic to draw increasing moisture into the central US by Wednesday and Wednesday night. Natural Gas has been unperturbed by the recent volatility in stock markets and the futures drew comfort from a sizable jump in DOW last night. US Natural Gas futures are currently trading up 4.67% at $4.50 per mmbtu- their highest level in nearly two weeks. The MCX Natural Gas futures are up 5.40% at Rs 337.10 per mmbtu.

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