Mild weather outlook hits Natural Gas
02/12/2014 09:41
Natural Gas futures ended lower 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 forecasts for milder weather in the first two weeks of December dimmed the demand outlook for the heating fuel.
The MDA Weather Services expects above-normal temperatures in most of the lower 48 states through December 15, 2014.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 245.90 per mmBtu, down by 5 per cent, after opening at Rs 256.2, against the previous closing price of Rs 259.30. It touched an intra-day low of Rs 244.
02/12/2014 09:41
Natural Gas futures ended lower 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 forecasts for milder weather in the first two weeks of December dimmed the demand outlook for the heating fuel.
The MDA Weather Services expects above-normal temperatures in most of the lower 48 states through December 15, 2014.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 245.90 per mmBtu, down by 5 per cent, after opening at Rs 256.2, against the previous closing price of Rs 259.30. It touched an intra-day low of Rs 244.
