Natural Gas futures plunge amid weather
outlook
28/11/2014 09:14
Natural Gas futures slumped in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market in thin-holiday trade as updated weather forecasting models pointed to mild weather in the US, dimming the demand outlook for the heating fuel. Mild weather may return to most parts of the US early next month after a blast of cold air exited. At the MCX, Natural gas futures for December 2014 contract closed at Rs. 260.90 per mmBtu, down by 5 per cent, after opening at Rs 273, against the previous closing price of Rs 274.70. It touched an intra-day low of Rs 259.30.
28/11/2014 09:14
Natural Gas futures slumped in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market in thin-holiday trade as updated weather forecasting models pointed to mild weather in the US, dimming the demand outlook for the heating fuel. Mild weather may return to most parts of the US early next month after a blast of cold air exited. At the MCX, Natural gas futures for December 2014 contract closed at Rs. 260.90 per mmBtu, down by 5 per cent, after opening at Rs 273, against the previous closing price of Rs 274.70. It touched an intra-day low of Rs 259.30.
