Cold blast pushes Natural Gas higher
18/11/2014 09:26
Natural Gas futures surged in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as a cold winter blast in the US boosted heating demand for the fuel in the world’s biggest economy.
While the lower US 48 states continue to see below-normal temperatures, Frontier Weather Inc. predicted colder weather to sweep Southern and Eastern US from November 27 through December 1, 2014.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 262.90 per mmBtu, up by 5.58 per cent, after opening at Rs 251.10, against the previous closing price of Rs 249. It touched an intra-day high of Rs 263.90
18/11/2014 09:26
Natural Gas futures surged in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as a cold winter blast in the US boosted heating demand for the fuel in the world’s biggest economy.
While the lower US 48 states continue to see below-normal temperatures, Frontier Weather Inc. predicted colder weather to sweep Southern and Eastern US from November 27 through December 1, 2014.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 262.90 per mmBtu, up by 5.58 per cent, after opening at Rs 251.10, against the previous closing price of Rs 249. It touched an intra-day high of Rs 263.90
