Moderating weather drags down Natural Gas
14/11/2014 09:32
Natural Gas futures remained in bear market in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for moderating weather in the US clouded the demand outlook for the heating fuel. Investors awaited the weekly US inventory data which may show an injection of 36 billion cubic feet last week, against a five-year average of 16 billion cubic feet. At the MCX, Natural gas futures for November 2014 contract closed at Rs. 250.60 per mmBtu, down by 3.28 per cent, after opening at Rs 257.60, against the previous closing price of Rs 259.10. It touched an intra-day low of Rs 249.70
14/11/2014 09:32
Natural Gas futures remained in bear market in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for moderating weather in the US clouded the demand outlook for the heating fuel. Investors awaited the weekly US inventory data which may show an injection of 36 billion cubic feet last week, against a five-year average of 16 billion cubic feet. At the MCX, Natural gas futures for November 2014 contract closed at Rs. 250.60 per mmBtu, down by 3.28 per cent, after opening at Rs 257.60, against the previous closing price of Rs 259.10. It touched an intra-day low of Rs 249.70
