Natural Gas extends losses on weather outlook
24/12/2014 09:39
Natural Gas futures extended a decline in the domestic and overseas market on Tuesday as investors exited positions in the energy commodity as milder than expected winter weather in the US, the world’s largest consumer of the fuel, threatened to curb heating demand and bolster supplies.
Investors are betting that unusually warm weather in the near-term may limit heating demand. Natural Gas is used for heating purposes by about 49 per cent of US households.
At the MCX, Natural Gas futures for December 2014 contract closed at Rs 198.90 per 1 kg, down by 1.29 per cent after opening at Rs 202, against the previous closing price of Rs 201.5 It touched the intra-day low of Rs 197 till the closing.
24/12/2014 09:39
Natural Gas futures extended a decline in the domestic and overseas market on Tuesday as investors exited positions in the energy commodity as milder than expected winter weather in the US, the world’s largest consumer of the fuel, threatened to curb heating demand and bolster supplies.
Investors are betting that unusually warm weather in the near-term may limit heating demand. Natural Gas is used for heating purposes by about 49 per cent of US households.
At the MCX, Natural Gas futures for December 2014 contract closed at Rs 198.90 per 1 kg, down by 1.29 per cent after opening at Rs 202, against the previous closing price of Rs 201.5 It touched the intra-day low of Rs 197 till the closing.
