Mild weather outlook hits Natural Gas
06/01/2015 09:12
Natural Gas futures tumbled in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a decline in prices in the overseas market as forecasts for mild weather in the US dimmed the demand outlook for the heating fuel.
The Commodity Weather Group LLC predicted mostly normal weather in the lower 48 states from January 15 through January 19 after a polar blast.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 190.10 per 1 kg, down by 2.86 per cent after opening at Rs 198.10, against the previous closing price of Rs 195.70. It touched the intra-day low of Rs 189.40 till the closing.
06/01/2015 09:12
Natural Gas futures tumbled in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a decline in prices in the overseas market as forecasts for mild weather in the US dimmed the demand outlook for the heating fuel.
The Commodity Weather Group LLC predicted mostly normal weather in the lower 48 states from January 15 through January 19 after a polar blast.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 190.10 per 1 kg, down by 2.86 per cent after opening at Rs 198.10, against the previous closing price of Rs 195.70. It touched the intra-day low of Rs 189.40 till the closing.
