Natural Gas surges on US blizzard
28/01/2015 09:33
Natural Gas futures surged in the domestic and overseas market on Tuesday as investors and speculators booked fresh positions in the energy commodity as a blizzard in the US which has brought heavy snowfall in the densely populated Northeast region may bolster heating demand for the fuel in the world’s biggest energy consumer.
The National Weather Service said that parts of Connecticut, Maine, Massachusetts, New Hampshire, New York and Rhode Island have seen more than a foot of snow as of Tuesday morning.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 183.90 per 1 kg, up by 0.60 per cent after opening at Rs 180.30, against the previous closing price of Rs 182.8. It touched the intra-day high of Rs 185 till the closing.
28/01/2015 09:33
Natural Gas futures surged in the domestic and overseas market on Tuesday as investors and speculators booked fresh positions in the energy commodity as a blizzard in the US which has brought heavy snowfall in the densely populated Northeast region may bolster heating demand for the fuel in the world’s biggest energy consumer.
The National Weather Service said that parts of Connecticut, Maine, Massachusetts, New Hampshire, New York and Rhode Island have seen more than a foot of snow as of Tuesday morning.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 183.90 per 1 kg, up by 0.60 per cent after opening at Rs 180.30, against the previous closing price of Rs 182.8. It touched the intra-day high of Rs 185 till the closing.
