Natural Gas Stays Under Stress, Futures Approach $9 Mark

1 Sep 2022 , 12:20 PM

Natural Gas continues to stay under pressure. European natural gas prices had dropped sharply this week as German Economy Minister Robert Habeck said over the weekend that the country remains on track to meet its target of filling inventories to 85% of capacity by October. Germany is Europes largest gas consumer. Its gas inventories are currently at 82.7%, according to the Federal Network Agency. This weighed on US Natural Gas futures and the commodity tanked near a two week low near $9 per mmbtu in last session. The counter currently trades at $9.07 per mmbtu, down 0.58% on the day. MCX Natural Gas quotes at Rs 721.60 per mmbtu, down 1.46% on the day. Powered by Commodity Insights