MCX Natural Gas Price Falls 3.22% Amid Crude Oil Surge

Natural gas prices on MCX closed at Rs 300.70 per mmBtu on Monday, down 3.22 percent from the previous close. This drop occurred despite crude oil surging 4.85 percent on MCX.

The broader equity market also saw a decline, with Nifty 50 falling 1.56 percent to 22,780.25. The India VIX rose 12.17 percent to 13.64.

According to Univest's research desk, led by Ankit Jaiswal and Kunal Singla, natural gas trading is influenced by global cues, particularly the US Dollar Index, which often has an inverse relationship with metal and bullion prices on MCX.