Natural Gas volatile after sharp gains in last session
Mumbai, Aug. 11 -- Natural Gas futures are trying to hold onto gains after spiking around 5% in last session. The counter currently trades at $2.77 per mmbtu,down 0.82% on the day. Energy Information Administration or EIA stated in its recent Short Term Energy Outlook (STEO) that it expects the US natural gas consumption in the electric power sector will set a record next year, driven largely by rising overall electricity demand, the expansion of the natural gas generating fleet, and relatively low natural gas prices. It says that natural gas demand across the economy is likely to rise slightly this year before increasing 3% in 2027. As record US natural gas production helps meet rising demand, it will likely be putting moderate downward pr...
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