Natural gas futures tilted higher in Asian trade away from early March lows even as the dollar gained ground, as markets price in developments in the Ukrainian crisis.

Traders also await important data from the US, the world's third largest natural gas exporter, which might show gas inventories fell 116 billion cubic feet in the previous week.

As of 06:40 GMT, natural gas futures due in April rose 0.44% to $4.54 per million British thermal units, while the dollar barely advanced 0.01% to 98.15.

From US, consumer prices are expected up 0.8% in February, while core prices are expected up 0.5%, slowing down from 0.6%.

US unemployment claims are expected up 5K to 220K from 215K in the previous reading.

Market hopes are rising for a resolution to the Ukrainian crisis, as Russian and Ukrainian officials head to Turkey to hold the first negotiations since the crisis began two weeks ago.

Ukraine has hinted strongly at giving concessions and admissions of independence for several major territories, such as Donbas, in a way to spur negotiations on.

Russia on the other hand stated it's willing to stop fighting at once if Kiev accepted Russian conditions.

US President Joe Biden announced a complete ban on Russian oil and gas imports, with the EU and UK announcing similar steps, in what's considered a huge escalation in response to Russia's invasion of Ukraine.

The decision came after the US Congress voted officially in support of a ban on importing Russian energy imports.

The EU announced similar a similar plan to give up Russian energy imports, in a step that seeks to repudiate Russia on its invasion of Ukraine

The UK as well announced plans to get rid of its Russian oil imports gradually by year's end.

Russia responded by banning exports of minerals and a variety of commodities to the US until next December.

Moving to Covid 19, latest World Health Organization data showed infections rose to 448.31 million cases, with the death toll mounting to 6,011,482.

Otherwise, Baker Hughes data showed natural gas rigs rose by 3 last week to 130 rigs, the highest since December 2019.