Natural Gas tumbles as weather in focus
07/01/2015 09:35
Natural Gas futures slumped in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as they monitored outlook for near-term weather which may dictate the extent of heating demand in the world’s biggest fuel consumer, the US.
Updated weather forecasting models called for frigid temperatures in the Northeast and Midwest US regions in the next three to five days.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 183 per 1 kg, down by 3.73 per cent after opening at Rs 189.4, against the previous closing price of Rs 190.1. It touched the intra-day low of Rs 179.7 till the closing
07/01/2015 09:35
Natural Gas futures slumped in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as they monitored outlook for near-term weather which may dictate the extent of heating demand in the world’s biggest fuel consumer, the US.
Updated weather forecasting models called for frigid temperatures in the Northeast and Midwest US regions in the next three to five days.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 183 per 1 kg, down by 3.73 per cent after opening at Rs 189.4, against the previous closing price of Rs 190.1. It touched the intra-day low of Rs 179.7 till the closing
