The US natural gas futures continued to stay under pressure as milder temperature forecasts are weighing on the sentiments. The benchmark futures gave up gains and ended in red yesterday, shedding around 2%. The counter currently trades down 2.64% at $3.13 per million British thermal units (mmbtu). Meanwhile, working gas in US storage stood at 2,214 billion cubic feet (Bcf) as of February. 6, after a net withdrawal of 249 Bcf on the week, the Energy Information Administration reported. Stocks were 97 Bcf below the same week a year earlier and 130 Bcf under the five-year average. Inventories remained within the historical range. Currently, the price action is being driven more by the weather trends and volatile undercurrent in commodities is also playing a part in shaping up the broad narrative. The futures are lingering around four-week low right now. MCX Natural Gas futures are trading at Rs 285 per mmbtu, down 3.10% on the day after a weak open.

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