Natural Gas futures tumble on mild US weather
24/06/2014 09:08
Natural Gas futures slumped in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecast for milder weather in the US dimmed the demand outlook for the fuel which is used to fire-up air conditioners. The Commodity Weather Group LLC forecast seasonal weather across the US for the next five days, reducing cooling demand. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 267.70 per mmBtu, down by 2.01 per cent, after opening at Rs 273.40, against the previous closing price of Rs 273.20. It touched an intra-day low of Rs 267.30.
24/06/2014 09:08
Natural Gas futures slumped in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecast for milder weather in the US dimmed the demand outlook for the fuel which is used to fire-up air conditioners. The Commodity Weather Group LLC forecast seasonal weather across the US for the next five days, reducing cooling demand. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 267.70 per mmBtu, down by 2.01 per cent, after opening at Rs 273.40, against the previous closing price of Rs 273.20. It touched an intra-day low of Rs 267.30.
