Natural Gas futures rebound on bargain buying
14/01/2015 09:37
Natural Gas futures ended higher in the domestic market on Tuesday tracking a surge in the energy commodity in the overseas market as recent losses in the fuel which pushed prices to the lowest level in over two years offered a good bargain buying opportunity to investors, at existing levels.
However, the gains in the energy commodity are likely to be limited as latest weather forecasting models showed mild weather across most of the US from January 16 through January 20, 2015, limiting heating demand for the fuel.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 180.70 per 1 kg, up by 3.43 per cent after opening at Rs 175.3, against the previous closing price of Rs 174.7. It touched the intra-day high of Rs 182.3 till the closing.
14/01/2015 09:37
Natural Gas futures ended higher in the domestic market on Tuesday tracking a surge in the energy commodity in the overseas market as recent losses in the fuel which pushed prices to the lowest level in over two years offered a good bargain buying opportunity to investors, at existing levels.
However, the gains in the energy commodity are likely to be limited as latest weather forecasting models showed mild weather across most of the US from January 16 through January 20, 2015, limiting heating demand for the fuel.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 180.70 per 1 kg, up by 3.43 per cent after opening at Rs 175.3, against the previous closing price of Rs 174.7. It touched the intra-day high of Rs 182.3 till the closing.
