Moderating weather forecasts hit Natural Gas
12/11/2014 09:25
Natural Gas futures tumbled in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for easing cold spell in the US clouded the demand outlook for the heating fuel.
The Commodity Weather Group LLC predicted a reduction in the intensity of the arctic blast dominating states east of the Rocky Mountains from November 21 through November 25, 2014.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 262.70 per mmBtu, down by 2.49 per cent, after opening at Rs 26.60, against the previous closing price of Rs 269.40. It touched an intra-day low of Rs 254.30.
12/11/2014 09:25
Natural Gas futures tumbled in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for easing cold spell in the US clouded the demand outlook for the heating fuel.
The Commodity Weather Group LLC predicted a reduction in the intensity of the arctic blast dominating states east of the Rocky Mountains from November 21 through November 25, 2014.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 262.70 per mmBtu, down by 2.49 per cent, after opening at Rs 26.60, against the previous closing price of Rs 269.40. It touched an intra-day low of Rs 254.30.
