Cooler weather outlook lifts Natural Gas
18/09/2014 09:27
Natural Gas futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as forecasts for cooler weather in the US lifted the demand outlook for the heating fuel.
The Commodity Weather Group predicted cooler temperatures in the Southwest, Midwest and Northeast US for the next week to ten days.
At the MCX, Natural gas futures for September 2014 contract closed at Rs. 244.60 per mmBtu, up by 0.37 per cent, after opening at Rs 243.60, against the previous closing price of Rs 243.70. It touched an intra-day high of Rs 246.50.
18/09/2014 09:27
Natural Gas futures ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as forecasts for cooler weather in the US lifted the demand outlook for the heating fuel.
The Commodity Weather Group predicted cooler temperatures in the Southwest, Midwest and Northeast US for the next week to ten days.
At the MCX, Natural gas futures for September 2014 contract closed at Rs. 244.60 per mmBtu, up by 0.37 per cent, after opening at Rs 243.60, against the previous closing price of Rs 243.70. It touched an intra-day high of Rs 246.50.
