Cold Weather outlook spurs Natural Gas’
revival
30/12/2014 09:38
Natural Gas futures surged in the domestic and overseas market on Monday as investors and speculators booked fresh positions in the energy commodity as latest weather forecasts called for an outbreak of cold weather in January, bolstering the demand for the heating fuel.
The Commodity Weather Group LLC said that it expects below-normal temperatures to push across the central US over next week to ten days. Natural Gas is used for heating purposes by about 49 per cent of American households
At the MCX, Natural Gas futures for December 2014 contract closed at Rs 203.8 per 1 kg, up by 4 per cent after opening at Rs 195.8, against the previous closing price of Rs 196. It touched the intra-day high of Rs 204.8 till the closing.
30/12/2014 09:38
Natural Gas futures surged in the domestic and overseas market on Monday as investors and speculators booked fresh positions in the energy commodity as latest weather forecasts called for an outbreak of cold weather in January, bolstering the demand for the heating fuel.
The Commodity Weather Group LLC said that it expects below-normal temperatures to push across the central US over next week to ten days. Natural Gas is used for heating purposes by about 49 per cent of American households
At the MCX, Natural Gas futures for December 2014 contract closed at Rs 203.8 per 1 kg, up by 4 per cent after opening at Rs 195.8, against the previous closing price of Rs 196. It touched the intra-day high of Rs 204.8 till the closing.
