Colder weather outlook boosts Natural Gas
01/04/2015 09:31
Natural Gas futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for cooler weather in parts of the US lifted the demand outlook for the heating fuel.
Latest weather forecasting models called for colder temperatures in the US East Coast and the Midwest from April 4 to April 6, 2015.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 167 per 1 kg, up by 0.18 per cent after opening at Rs 166.6, against the previous closing price of Rs 166.7. It touched the intra-day high of Rs 169.3 till the closing.
01/04/2015 09:31
Natural Gas futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for cooler weather in parts of the US lifted the demand outlook for the heating fuel.
Latest weather forecasting models called for colder temperatures in the US East Coast and the Midwest from April 4 to April 6, 2015.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 167 per 1 kg, up by 0.18 per cent after opening at Rs 166.6, against the previous closing price of Rs 166.7. It touched the intra-day high of Rs 169.3 till the closing.
