Natural Gas extends sell-off on weather outlook
13/04/2015 09:39
Natural Gas futures ended lower in the domestic and overseas market on Friday as investors and speculators exited positions in the energy commodity amid speculation that the end of the winter heating season may cut the demand outlook for the weather-sensitive fuel.
The onset of the spring season in the US, the world’s biggest fuel consumer, means seasonal temperatures, curbing the need for heating offices or homes. About 49% of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 157.90 per 1 kg, down by 0.44 per cent after opening at Rs 159.4, against the previous closing price of Rs 158.6. It touched the intra-day low of Rs 157.6 till the closing.
13/04/2015 09:39
Natural Gas futures ended lower in the domestic and overseas market on Friday as investors and speculators exited positions in the energy commodity amid speculation that the end of the winter heating season may cut the demand outlook for the weather-sensitive fuel.
The onset of the spring season in the US, the world’s biggest fuel consumer, means seasonal temperatures, curbing the need for heating offices or homes. About 49% of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 157.90 per 1 kg, down by 0.44 per cent after opening at Rs 159.4, against the previous closing price of Rs 158.6. It touched the intra-day low of Rs 157.6 till the closing.
