Mild weather forecasts hit Natural Gas
17/12/2014 09:31
Natural Gas futures ended lower 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 showed that the cold snaps set to reach the US in the coming days may not be as severe as first thought, dimming the demand outlook for the heating fuel.
About 49 per cent of US households use natural gas for heating purposes. November to March is the peak heating demand season.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 234.60 per mmBtu, down by 1.59 per cent, after opening at Rs 240.40, against the previous closing price of Rs 238.40. It touched an intra-day low of Rs 233.20.
17/12/2014 09:31
Natural Gas futures ended lower 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 showed that the cold snaps set to reach the US in the coming days may not be as severe as first thought, dimming the demand outlook for the heating fuel.
About 49 per cent of US households use natural gas for heating purposes. November to March is the peak heating demand season.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 234.60 per mmBtu, down by 1.59 per cent, after opening at Rs 240.40, against the previous closing price of Rs 238.40. It touched an intra-day low of Rs 233.20.
