Natural Gas tumbles ahead of supplies data
26/03/2015 09:46
Natural gas futures ended sharply lower in the domestic and overseas market on Wednesday as investors and speculators booked profits in the energy commodity ahead of weekly supplies data which may show a modest withdrawal in stockpiles. US gas stockpiles likely fell by 10 billion cubic feet in the week ended March 20, analysts said ahead of EIA data on Thursday. Stockpiles fell 56 billion cubic feet in the same week last year while the five-year average decline stood at 19 billion cubic feet. At the MCX, Natural Gas futures for March 2015 contract closed at Rs 171 per 1 kg, down by 1.72 per cent after opening at Rs 173.10, against the previous closing price of Rs 174 It touched the intra-day low of Rs 169.20 till the closing.
26/03/2015 09:46
Natural gas futures ended sharply lower in the domestic and overseas market on Wednesday as investors and speculators booked profits in the energy commodity ahead of weekly supplies data which may show a modest withdrawal in stockpiles. US gas stockpiles likely fell by 10 billion cubic feet in the week ended March 20, analysts said ahead of EIA data on Thursday. Stockpiles fell 56 billion cubic feet in the same week last year while the five-year average decline stood at 19 billion cubic feet. At the MCX, Natural Gas futures for March 2015 contract closed at Rs 171 per 1 kg, down by 1.72 per cent after opening at Rs 173.10, against the previous closing price of Rs 174 It touched the intra-day low of Rs 169.20 till the closing.
