Mild weather outlook hits Natural Gas
01/12/2014 09:27
Natural Gas futures ended lower in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for mild weather across most parts of the US dimmed the demand outlook for the heating fuel. The Climate Prediction Center in College Park, Maryland predicted warmer than normal weather across a large swath of the US through December 7. About 49 per cent of US households use natural gas for heating purposes. At the MCX, Natural gas futures for December 2014 contract closed at Rs. 259.30 per mmBtu, down by 0.61 per cent, after opening at Rs 261.50, against the previous closing price of Rs 260.90. It touched an intra-day low of Rs 256.40.
01/12/2014 09:27
Natural Gas futures ended lower in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for mild weather across most parts of the US dimmed the demand outlook for the heating fuel. The Climate Prediction Center in College Park, Maryland predicted warmer than normal weather across a large swath of the US through December 7. About 49 per cent of US households use natural gas for heating purposes. At the MCX, Natural gas futures for December 2014 contract closed at Rs. 259.30 per mmBtu, down by 0.61 per cent, after opening at Rs 261.50, against the previous closing price of Rs 260.90. It touched an intra-day low of Rs 256.40.
