Natural Gas extends rout on mild weather
21/01/2015 09:20
Natural Gas futures extended a rout in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market as forecasts for moderating US weather threatened to curb heating demand for the fuel in the world’s biggest fuel user. Commodity Weather Group LLC predicted above normal temperatures from the Great Plains through Florida over the next five days with seasonal or higher readings through January 29, 2015. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 175.90 per 1 kg, down by 3.72 per cent after opening at Rs 183.7, against the previous closing price of Rs 182.7. It touched the intra-day low of Rs 186.2 till the closing.
21/01/2015 09:20
Natural Gas futures extended a rout in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market as forecasts for moderating US weather threatened to curb heating demand for the fuel in the world’s biggest fuel user. Commodity Weather Group LLC predicted above normal temperatures from the Great Plains through Florida over the next five days with seasonal or higher readings through January 29, 2015. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 175.90 per 1 kg, down by 3.72 per cent after opening at Rs 183.7, against the previous closing price of Rs 182.7. It touched the intra-day low of Rs 186.2 till the closing.
