Mumbai, Dec. 16 -- The US Natural Gas futures continue to slide. The futures tanked under $4 per mmbtu today, testing a six-week low amid warm weather forecasts that is capping demand. Prices have slumped from a three-year high recently. The counter currently trades at $3.91 per mmbtu, down 2.42% on the day. The commodity lost 22% last week and has shed around 4.7% this week. The US Energy Information Administration reported a large 177 Bcf draw in gas storage last week but the counter did not see any support from it as the overall storage is still 2.8% above seasonal norms. MCX Natural Gas futures are trading at Rs 358.10 per mmbtu, down 3.20% on the day.
Published by HT Digital Content Services with permission from Capital Market....