Warm weather outlook drags down Natural Gas
19/12/2014 09:29
Natural Gas futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market after latest weather forecasts called for warmer than average temperatures in some parts of the US, that may curb heating demand for the fuel in the world’s biggest economy.
WSI Corp called for above average temperatures in eastern US from December 24 through December 27, 2014.
US gas supplies fell by 64 billion cubic feet to 3.295 trillion cubic feet last week, less than the five-year average dip of 157 billion cubic feet.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 237 per mmBtu, up by 0.08 per cent, after opening at Rs 236.20, against the previous closing price of Rs 236.80. It touched an intra-day high of Rs 239.40
19/12/2014 09:29
Natural Gas futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market after latest weather forecasts called for warmer than average temperatures in some parts of the US, that may curb heating demand for the fuel in the world’s biggest economy.
WSI Corp called for above average temperatures in eastern US from December 24 through December 27, 2014.
US gas supplies fell by 64 billion cubic feet to 3.295 trillion cubic feet last week, less than the five-year average dip of 157 billion cubic feet.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 237 per mmBtu, up by 0.08 per cent, after opening at Rs 236.20, against the previous closing price of Rs 236.80. It touched an intra-day high of Rs 239.40
