Natural gas futures surges on weather outlook
19/02/2015 09:40
Natural Gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for a cold snap in the US in the coming days bolstered the demand outlook for the heating fuel.
Latest weather forecasts showed frigid weather spanning from the Great Lakes-region to the Northeast through February 26, 2015.
At the MCX, Natural Gas futures for February 2015 contract closed at Rs 174.30 per 1 kg, up by 3 per cent after opening at Rs 170.7, against the previous closing price of Rs 169.2. It touched the intra-day high of Rs 176.50 till the closing.
19/02/2015 09:40
Natural Gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for a cold snap in the US in the coming days bolstered the demand outlook for the heating fuel.
Latest weather forecasts showed frigid weather spanning from the Great Lakes-region to the Northeast through February 26, 2015.
At the MCX, Natural Gas futures for February 2015 contract closed at Rs 174.30 per 1 kg, up by 3 per cent after opening at Rs 170.7, against the previous closing price of Rs 169.2. It touched the intra-day high of Rs 176.50 till the closing.
