Financial Insights

Natural gas futures drop ahead of EIA inventory report amid muted global cues

Natural gas futures fell slightly on October 28 as the market waited for the Energy Information Administration’s (EIA) weekly inventory report to be released later that day.
NYMEX:- Wednesday gas prices rose 5.44 percent.

Energy commodities followed a calm global trend, compensating for early morning losses to trade negative in the afternoon trading.

At the MCX, the natural gas supply in November decreased by 1.90 rupees (0.41%) to 463.80 rupees/mmBtu at 2:55 pm, recording business sales of 5,573 lots. In December gas transport volume decreased by 3 rupees (0.63%) to 470.20 rupees, and the transaction volume was 1,153 lots.
The November and December contracts traded so far were valued at Rs 1.1039 trillion and Rs 61.91 billion, respectively.

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