Natural Gas futures tumble ahead of US supplies data
03/07/2014 09:29
Natural Gas futures slumped in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market amid speculation that US gas supplies rose last week, signaling weaker demand for the fuel in the world’s biggest gas consumer. US gas stockpiles likely rose 100 billion cubic feet in the week ended June 27; the EIA may say today, analysts’ estimates showed. At the MCX, Natural gas futures for July 2014 contract closed at Rs. 260.80 per mmBtu, down by 2.76 per cent, after opening at Rs 267.90, against the previous closing price of Rs 268.20. It touched an intra-day low of Rs 260.40.
03/07/2014 09:29
Natural Gas futures slumped in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market amid speculation that US gas supplies rose last week, signaling weaker demand for the fuel in the world’s biggest gas consumer. US gas stockpiles likely rose 100 billion cubic feet in the week ended June 27; the EIA may say today, analysts’ estimates showed. At the MCX, Natural gas futures for July 2014 contract closed at Rs. 260.80 per mmBtu, down by 2.76 per cent, after opening at Rs 267.90, against the previous closing price of Rs 268.20. It touched an intra-day low of Rs 260.40.
