Bearish supplies data hits Natural Gas
10/04/2015 09:35
Natural Gas futures tumbled in the domestic and overseas market on Thursday as investors and speculators exited positions in the energy commodity after US gas supplies rose more than estimated last week, signaling weaker demand for the weather-sensitive fuel in the world’s biggest economy.
US gas stockpiles climbed by 15 billion cubic feet in the week ended April 3, 2015, above expectations of an 11 billion cubic feet rise, and compared to an 8 billion cubic feet withdrawal in the same week last year and a five-year average decline of 2 billion cubic feet.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 162.80 per 1 kg, down by 2.98 per cent after opening at Rs 168.2, against the previous closing price of Rs 167.8. It touched the intra-day low of Rs 162.4 till the closing.
10/04/2015 09:35
Natural Gas futures tumbled in the domestic and overseas market on Thursday as investors and speculators exited positions in the energy commodity after US gas supplies rose more than estimated last week, signaling weaker demand for the weather-sensitive fuel in the world’s biggest economy.
US gas stockpiles climbed by 15 billion cubic feet in the week ended April 3, 2015, above expectations of an 11 billion cubic feet rise, and compared to an 8 billion cubic feet withdrawal in the same week last year and a five-year average decline of 2 billion cubic feet.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 162.80 per 1 kg, down by 2.98 per cent after opening at Rs 168.2, against the previous closing price of Rs 167.8. It touched the intra-day low of Rs 162.4 till the closing.
