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As on: Oct 27, 2020 08:24 PM
Natural Gas Futures See Good Buying
16-Oct-20   18:13 Hrs IST
Natural Gas futures are witnessing good buying on near term demand hopes and steady equities. The commodity currently trades at $2.82 per mmbtu, up 1.66% on the day. MCX Natural Gas is trading at Rs 207.30 per mmbtu, up 1.67% on the day, tracking global cues. The commodity rose yesterday despite a rise in US inventories. Working gas storage in the contiguous United States was 3,877 billion cubic feet in the week ending October 9th, a net increase of 46 billion cubic feet, or 1.2%, from the previous week, the US Energy Information Administration (EIA) said Thursday. The total working gas storage increased by 11.1% from this time last year, or 10% above the five-year average, according to the EIA's Weekly Natural Gas Storage Report.

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