Bargain buying lifts Natural Gas
27/04/2015 09:14
Natural Gas futures closed higher in the domestic market on Friday as the sharp losses in the energy commodity in the previous session offered investors good barging buying opportunity, in the fuel, at existing levels.
Prices plummeted on Thursday as a heavier than expected stockpile-build signaled weaker demand for the fuel in the world’s biggest consumer as the end of the winter season cuts heating demand. US natural gas stockpiles climbed by 90 billion cubic feet in the week ended April 17, 2015 to 1.629 trillion cubic feet, topping expectations of a 88 billion cubic feet rise.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 161.3 per 1 kg, up by 0.50 per cent after opening at Rs 160.8, against the previous closing price of Rs 160.5. It touched the intra-day high of Rs 163.1 till the closing.
27/04/2015 09:14
Natural Gas futures closed higher in the domestic market on Friday as the sharp losses in the energy commodity in the previous session offered investors good barging buying opportunity, in the fuel, at existing levels.
Prices plummeted on Thursday as a heavier than expected stockpile-build signaled weaker demand for the fuel in the world’s biggest consumer as the end of the winter season cuts heating demand. US natural gas stockpiles climbed by 90 billion cubic feet in the week ended April 17, 2015 to 1.629 trillion cubic feet, topping expectations of a 88 billion cubic feet rise.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 161.3 per 1 kg, up by 0.50 per cent after opening at Rs 160.8, against the previous closing price of Rs 160.5. It touched the intra-day high of Rs 163.1 till the closing.
