Natural Gas tumbles on warm weather outlook
30/03/2015 09:50
Natural Gas futures plunged in the domestic and overseas market on Friday as investors and speculators exited positions in the energy commodity amid speculation that the onset of warmer weather in the US may curb demand for the heating fuel.
Latest weather forecasting models called for near-normal temperatures across the 48 US states over the next two weeks.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.6 per 1 kg, down by 2.34 per cent after opening at Rs 170.50, against the previous closing price of Rs 170.60. It touched the intra-day low of Rs 166 till the closing.
30/03/2015 09:50
Natural Gas futures plunged in the domestic and overseas market on Friday as investors and speculators exited positions in the energy commodity amid speculation that the onset of warmer weather in the US may curb demand for the heating fuel.
Latest weather forecasting models called for near-normal temperatures across the 48 US states over the next two weeks.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.6 per 1 kg, down by 2.34 per cent after opening at Rs 170.50, against the previous closing price of Rs 170.60. It touched the intra-day low of Rs 166 till the closing.
