Weather outlook lifts Natural gas
31/10/2014 09:22
Natural Gas futures extended gains in the domestic market on Thursday tracking a firm trend in the overseas market as forecasts for below –normal temperatures in the US bolstering demand outlook for the heating fuel which is used for heating purposes by about 49 per cent of US households.
The MDA Weather Services in Maryland predicted colder than usual weather in the eastern half of the US through November 3, 2014.
US gas stockpiles climbed 87 billion cubic feet last week, above the 85 billion cubic feet predicted by analysts, signaling abundant supplies, trimming gains in the energy commodity.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 235.70 per mmBtu, up by 0.13 per cent, after opening at Rs 236.80, against the previous closing price of Rs 235.40. It touched an intra-day high of Rs 237.70.
31/10/2014 09:22
Natural Gas futures extended gains in the domestic market on Thursday tracking a firm trend in the overseas market as forecasts for below –normal temperatures in the US bolstering demand outlook for the heating fuel which is used for heating purposes by about 49 per cent of US households.
The MDA Weather Services in Maryland predicted colder than usual weather in the eastern half of the US through November 3, 2014.
US gas stockpiles climbed 87 billion cubic feet last week, above the 85 billion cubic feet predicted by analysts, signaling abundant supplies, trimming gains in the energy commodity.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 235.70 per mmBtu, up by 0.13 per cent, after opening at Rs 236.80, against the previous closing price of Rs 235.40. It touched an intra-day high of Rs 237.70.
