No respite for Natural Gas amid mild weather
20/01/2015 09:34
Natural Gas futures extended a sell-off in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market after updated weather forecasts signaled weaker than previously anticipated intensity of a cold snap across the US, dimming the demand outlook for the heating fuel.
Latest weather forecasting models called for seasonal temperatures in the lower 48 US states over the next two weeks, cutting heating demand.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 182.7 per 1 kg, down by 5.24 per cent after opening at Rs 190.8, against the previous closing price of Rs 192.8. It touched the intra-day low of Rs 181.5 till the closing.
20/01/2015 09:34
Natural Gas futures extended a sell-off in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market after updated weather forecasts signaled weaker than previously anticipated intensity of a cold snap across the US, dimming the demand outlook for the heating fuel.
Latest weather forecasting models called for seasonal temperatures in the lower 48 US states over the next two weeks, cutting heating demand.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 182.7 per 1 kg, down by 5.24 per cent after opening at Rs 190.8, against the previous closing price of Rs 192.8. It touched the intra-day low of Rs 181.5 till the closing.
