Mild weather outlook weighs on Natural Gas 19/01/2015

Mild weather outlook weighs on Natural Gas
19/01/2015 09:29
Natural gas futures closed on a bearish note in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for mild weather across the US following a recent cold snap threatened to curb demand for the heating fuel.
The Commodity Weather Group LLC predicted that temperatures may be average or above normal in the contiguous US through January 20, 2015.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 192.8 per 1 kg, down by 2.87 per cent after opening at Rs 197, against the previous closing price of Rs 198.5. It touched the intra-day low of Rs 199.5 till the closing.