Cold weather outlook lifts Natural Gas
05/03/2015 09:45
Natural Gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts showed a blast of cold air heading into the US, lifting the demand outlook for the hearing fuel.
The MDA Weather Services predicted below-normal temperatures across most of the lower 48 states over the next five days.
At the MCX, Natural Gas futures for March 2015 contract closed at Rs 173.70 per 1 kg, up by 2.42 per cent after opening at Rs 170, against the previous closing price of Rs 169.60. It touched the intra-day high of Rs 174.30 till the closing.
05/03/2015 09:45
Natural Gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts showed a blast of cold air heading into the US, lifting the demand outlook for the hearing fuel.
The MDA Weather Services predicted below-normal temperatures across most of the lower 48 states over the next five days.
At the MCX, Natural Gas futures for March 2015 contract closed at Rs 173.70 per 1 kg, up by 2.42 per cent after opening at Rs 170, against the previous closing price of Rs 169.60. It touched the intra-day high of Rs 174.30 till the closing.
