Natural Gas plunges on mild weather forecasts
28/04/2015 09:07
Natural Gas futures plummeted in the domestic and overseas market on Monday as investors and speculators exited positions in the energy commodity amid bets that the end of the winter season may curb demand for the heating fuel.
Latest weather forecasting models called for mostly mild weather across the US. About 49 per cent of American households use natural gas for heating purposes.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 157.3 per 1 kg, down by 2.48 per cent after opening at Rs 160, against the previous closing price of Rs 161.3. It touched the intra-day low of Rs 155.4 till the closing.
28/04/2015 09:07
Natural Gas futures plummeted in the domestic and overseas market on Monday as investors and speculators exited positions in the energy commodity amid bets that the end of the winter season may curb demand for the heating fuel.
Latest weather forecasting models called for mostly mild weather across the US. About 49 per cent of American households use natural gas for heating purposes.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 157.3 per 1 kg, down by 2.48 per cent after opening at Rs 160, against the previous closing price of Rs 161.3. It touched the intra-day low of Rs 155.4 till the closing.
