Cold weather boosts Natural Gas
27/01/2015 09:21
Natural Gas futures surged in the domestic and overseas market on Friday as forecasts for colder weather in the US at the start of February bolstered the demand outlook for the heating fuel.
Latest weather forecasting models called for colder than normal weather for the US East Coast over the next two weeks. About 49 per cent of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 182.80 per 1 kg, up by 6.16 per cent after opening at Rs 173.8, against the previous closing price of Rs 172.2. It touched the intra-day high of Rs 184 till the closing.
27/01/2015 09:21
Natural Gas futures surged in the domestic and overseas market on Friday as forecasts for colder weather in the US at the start of February bolstered the demand outlook for the heating fuel.
Latest weather forecasting models called for colder than normal weather for the US East Coast over the next two weeks. About 49 per cent of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 182.80 per 1 kg, up by 6.16 per cent after opening at Rs 173.8, against the previous closing price of Rs 172.2. It touched the intra-day high of Rs 184 till the closing.
