US Natural Gas futures soared today, adding good gains as a recent rally extended. The counter soared more than 6% in last session and is currently up 1.23% at $3.63 per mmbtu. These are the highest levels in last 14 months for the counter. EIA data showed yesterday that US working gas in storage decreased by 125 Bcf from the previous week. At current levels, stocks are 132 Bcf above the five-year average for this time of the year and 20 Bcf higher than last year. However, the recent declines in gas storage on weekly basis clubbed with firm demand expectations are pushing up the prices. US may see colder weather in early January, likely boosting heating demand. Meanwhile, gas market looks firm on geopolitical worries too as Russia will not transit its gas through Ukraine to Europe in 2025. On the MCX, Natural Gas futures are up 3.44% at Rs 309.70 per mmbtu, adding to a more than 4% spurt in last session.

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