Waning cold spell takes toll on Natural Gas
11/11/2014 09:24
Natural Gas futures slumped in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market amid bets that moderating weather in the US may curb demand for the heating fuel in the world’s biggest fuel user. The MDA Weather Services said that the government’s Global Forecast System predicted easing cold weather east of the Rocky Mountains in the next 11 to 15 days, limiting heating demand. At the MCX, Natural gas futures for November 2014 contract closed at Rs. 269.40 per mmBtu, down by 1.82 per cent, after opening at Rs 276.20, against the previous closing price of Rs 274.40. It touched an intra-day low of Rs 266.60
11/11/2014 09:24
Natural Gas futures slumped in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market amid bets that moderating weather in the US may curb demand for the heating fuel in the world’s biggest fuel user. The MDA Weather Services said that the government’s Global Forecast System predicted easing cold weather east of the Rocky Mountains in the next 11 to 15 days, limiting heating demand. At the MCX, Natural gas futures for November 2014 contract closed at Rs. 269.40 per mmBtu, down by 1.82 per cent, after opening at Rs 276.20, against the previous closing price of Rs 274.40. It touched an intra-day low of Rs 266.60
