Natural Gas futures tumble on bearish supplies data
27/06/2014 09:02
Natural Gas futures slumped in the domestic market on Thursday as investors and speculators exited positions in the energy commodity after the weekly US supplies data showed a bigger than expected rise in gas stockpiles last week, signaling weakening demand for the fuel in the world’s biggest economy.
US gas stockpiles rose by 110 billion cubic feet to 1.829 trillion cubic feet in the week ended June 20, EIA said. Analysts were expecting inventories to rise 105 billion cubic feet last week.
At the MCX, Natural gas futures for June 2014 contract closed at Rs. 267.80 per mmBtu, down by 2.55 per cent, after opening at Rs 275.30, against the previous closing price of Rs 274.80. It touched an intra-day low of Rs 267.20
27/06/2014 09:02
Natural Gas futures slumped in the domestic market on Thursday as investors and speculators exited positions in the energy commodity after the weekly US supplies data showed a bigger than expected rise in gas stockpiles last week, signaling weakening demand for the fuel in the world’s biggest economy.
US gas stockpiles rose by 110 billion cubic feet to 1.829 trillion cubic feet in the week ended June 20, EIA said. Analysts were expecting inventories to rise 105 billion cubic feet last week.
At the MCX, Natural gas futures for June 2014 contract closed at Rs. 267.80 per mmBtu, down by 2.55 per cent, after opening at Rs 275.30, against the previous closing price of Rs 274.80. It touched an intra-day low of Rs 267.20
