Mumbai, Aug. 4 -- Natural Gas futures eased after a mini rally in last few sessions as elevated inventories and steady supplies outlook kept prices near six-month low. A 5% slide in crude oil prices in last session also weighed. Latest data from the US Energy Information Administration showed that working gas in underground storage across the Lower 48 states totaled 3,084 billion cubic feet (Bcf). This represents a net weekly increase of 28 Bcf compared to the prior week. Current inventories are 32 Bcf lower than the level recorded at the same time last year but stand 185 Bcf above the five-year average of 2,899 Bcf. The EIA noted that total working gas remains within the five-year historical range.
Meanwhile, the number of oil and gas rig...