Natural Gas futures slump as US Artic blast
ends
25/11/2014 09:31
Natural Gas futures tumbled in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market as the US Artic Blast ended, giving way to warmer weather, and limiting heating demand for the fuel in the world’s biggest fuel user.
BNP Paribas predicted milder than usual weather in the US over the next two weeks. About 49 per cent of American households user natural gas for heating purposes.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 254.40 per mmBtu, down by 4.4 per cent, after opening at Rs 263.60, against the previous closing price of Rs 266.10. It touched an intra-day low of Rs 246.30.
25/11/2014 09:31
Natural Gas futures tumbled in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market as the US Artic Blast ended, giving way to warmer weather, and limiting heating demand for the fuel in the world’s biggest fuel user.
BNP Paribas predicted milder than usual weather in the US over the next two weeks. About 49 per cent of American households user natural gas for heating purposes.
At the MCX, Natural gas futures for November 2014 contract closed at Rs. 254.40 per mmBtu, down by 4.4 per cent, after opening at Rs 263.60, against the previous closing price of Rs 266.10. It touched an intra-day low of Rs 246.30.
