Natural Gas surges on cold weather outlook
15/01/2015 09:29
Natural gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market as a blast of Arctic weather threatened to sweep the US, bolstering the demand outlook for the heating fuel.
The polar blast may push temperatures well below normal in the US Midwest to Northeast from January 22 through January 26, Frontier Weather Inc. said.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 201.2 per 1 kg, up by 11.34 per cent after opening at Rs 182, against the previous closing price of Rs 180.7. It touched the intra-day high of Rs 202.3 till the closing.
15/01/2015 09:29
Natural gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market as a blast of Arctic weather threatened to sweep the US, bolstering the demand outlook for the heating fuel.
The polar blast may push temperatures well below normal in the US Midwest to Northeast from January 22 through January 26, Frontier Weather Inc. said.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 201.2 per 1 kg, up by 11.34 per cent after opening at Rs 182, against the previous closing price of Rs 180.7. It touched the intra-day high of Rs 202.3 till the closing.
