Mumbai, March 28 -- The US Natural Gas futures succumbed to heavy selling pressure yesterday in intraday moves, testing a six week low but ended session with modest gains of more than 1%. Market is keeping an eye on the US demand-supply dynamics. Energy Information Administration or EIA has stated yesterday that net injections into US storage totaled 37 billion cubic feet or Bcf for the week ending March 21, compared with the five-year (2020-24) average net withdrawals of 31 Bcf and last year's net withdrawals of 30 Bcf during the same week. Working natural gas stocks totaled 1,744 Bcf, which is 122 Bcf (7%) lower than the five-year average and 557 Bcf (24%) lower than last year at this time.
EIA noted that the average rate of withdrawals ...