Natural gas futures slip ahead of EIA inventory report

Natural gas futures slip ahead of EIA inventory report

Natural gas has been trading higher than 50, 100, and 200-day simple and exponential moving averages but lower than the 5 and 20 days SMA and EMA on the daily chart.







PTI









Mumbai / October 21, 2021 / 03:09 PM IST





Natural gas futures traded weak on October 21 as the market awaited Energy Information Administration (EIA) weekly inventory report scheduled for release later in the day. Gas prices had jumped 1.61 percent yesterday on the NYMEX.

The energy commodity traded in the red since morning, tracking the muted overseas cues.

On the MCX, natural gas delivery for October slides Rs 4.40, or 1.13 percent to Rs 383 per mmBtu at 14:30 hours with a business turnover of 3,442 lots.

Gas delivery for November slumped Rs 3.70, or 0.90 percent, to Rs 405.90 per mmBtu with a business volume of 3,657 lots.

The value of October and November's contracts traded so far is Rs 612.11 crore and Rs 198.40 crore, respectively.

MCX Enrgdex declined by 2 points or 0.03 percent at 6,444 at 2.32pm. The index tracks the real-time performance of MCX Crude Oil and MCX Natural Gas futures.

“Natural gas prices rose on Wednesday after