Chilly weather outlook lifts Natural Gas
05/01/2015 09:21
Natural Gas futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market amid optimism that frigid weather in the US may spur demand for the heating fuel. The Commodity Weather Group LLC predicted that an arctic chill may head towards the US Midwest, South and West this week, bringing very low temperatures, sparking demand for heating. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 195.70 per 1 kg, up by 5.7 per cent after opening at Rs 182.90, against the previous closing price of Rs 185.20. It touched the intra-day high of Rs 196.3 till the closing.
05/01/2015 09:21
Natural Gas futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market amid optimism that frigid weather in the US may spur demand for the heating fuel. The Commodity Weather Group LLC predicted that an arctic chill may head towards the US Midwest, South and West this week, bringing very low temperatures, sparking demand for heating. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 195.70 per 1 kg, up by 5.7 per cent after opening at Rs 182.90, against the previous closing price of Rs 185.20. It touched the intra-day high of Rs 196.3 till the closing.
