Mild weather outlook weighs on Natural Gas
16/01/2015 09:40
Natural Gas futures closed lower in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as moderating forecasts for a late January cold snap across the US dimmed the demand outlook for the heating fuel. Frontier Weather said that its latest weather forecasting model called for an easing of the below-normal temperatures predicted earlier. US gas stockpiles fell 236 billion cubic feet last week, beating estimates for a decline of 229 billion cubic feet. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 198.5 per 1 kg, down by 1.34 per cent after opening at Rs 201.6, against the previous closing price of Rs 201.2. It touched the intra-day low of Rs 195.8 till the closing
16/01/2015 09:40
Natural Gas futures closed lower in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as moderating forecasts for a late January cold snap across the US dimmed the demand outlook for the heating fuel. Frontier Weather said that its latest weather forecasting model called for an easing of the below-normal temperatures predicted earlier. US gas stockpiles fell 236 billion cubic feet last week, beating estimates for a decline of 229 billion cubic feet. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 198.5 per 1 kg, down by 1.34 per cent after opening at Rs 201.6, against the previous closing price of Rs 201.2. It touched the intra-day low of Rs 195.8 till the closing
