Natural Gas stages mild rebound on bargain
buying
29/12/2014 09:48
Natural Gas futures ended with slim gains in the domestic market on Friday as the sharp losses in the energy commodity witnessed in the previous session offered investors a good bargain buying opportunity at existing levels.
However, forecasts for milder weather in the US that may curb heating demand for the fuel trimmed gains in Natural Gas. The Commodity Weather Group LLC predicted mostly above average temperatures in the eastern half of the US through December 30, 2014.
At the MCX, Natural Gas futures for December 2014 contract closed at Rs 191.9 per 1 kg, up by 0.10 per cent after opening at Rs 194.7, against the previous closing price of Rs 191.7. It touched the intra-day high of Rs 195.4 till the closing.
29/12/2014 09:48
Natural Gas futures ended with slim gains in the domestic market on Friday as the sharp losses in the energy commodity witnessed in the previous session offered investors a good bargain buying opportunity at existing levels.
However, forecasts for milder weather in the US that may curb heating demand for the fuel trimmed gains in Natural Gas. The Commodity Weather Group LLC predicted mostly above average temperatures in the eastern half of the US through December 30, 2014.
At the MCX, Natural Gas futures for December 2014 contract closed at Rs 191.9 per 1 kg, up by 0.10 per cent after opening at Rs 194.7, against the previous closing price of Rs 191.7. It touched the intra-day high of Rs 195.4 till the closing.
