Natural gas futures slid one percent in American trade off October 18 highs, even as the dollar index backed off June 2017 highs, following earlier data from the US, the world's largest energy consumer, including the EIA report that showed another inventory build for the 26th meeting in a row.

As of 07:27 GMT, natural gas futures due in December slid 0.92% to $3.23 per million British thermal units, while the dollar index slumped 0.87% to 96.29, marking October 24 lows.

Us Inventory Buildup

The Energy Information Administration released its report on natural gas stocks, which showed a build of 48 billion cubic feet in the week ending October 26, compared to 58 billion in the previous reading, while analysts expected at 53 billion.

Total inventories are now up to 3.143 trillion cubic feet from 3.095 trillion in the week ending October 19, making them below the total of the same period in 2017 at 3.766 trillion, while also below five-year averages at 3.781 trillion.

Other less-related US data showed unemployment claims fell to 214 thousand from 216K in the week ending last Saturday, while continuing claims fell to 1.631 million in the week ending October 20 from 1.638 million.

Non-farm productivity rose 2.2% as expected, slowing down from 3% in the second quarter.

The US ISM manufacturing PMI receded to 57.7 in October from 59.8 in September, missing estimates of 59 by a wide margin.

ISM manufacturing prices rose to 71.6 from 66.9, besting estimates of 72.0.