Natural Gas remains in bear terrain
21/04/2015 09:32
Natural Gas futures plunged in the domestic and overseas market on Monday as investors and speculators exited positions in the energy commodity amid worries that the onset of the spring season which may bring more seasonal weather in the US may cut demand for the heating fuel in the world’s biggest fuel user.
The spring season is traditionally when demand for the energy commodity is the weakest amid lack of extreme temperatures which reduces the need for cooling or heating homes and offices. 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 161 per 1 kg, down by 2.37 per cent after opening at Rs 164.2, against the previous closing price of Rs 164.9. It touched the intra-day low of Rs 160.3 till the closing.
21/04/2015 09:32
Natural Gas futures plunged in the domestic and overseas market on Monday as investors and speculators exited positions in the energy commodity amid worries that the onset of the spring season which may bring more seasonal weather in the US may cut demand for the heating fuel in the world’s biggest fuel user.
The spring season is traditionally when demand for the energy commodity is the weakest amid lack of extreme temperatures which reduces the need for cooling or heating homes and offices. 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 161 per 1 kg, down by 2.37 per cent after opening at Rs 164.2, against the previous closing price of Rs 164.9. It touched the intra-day low of Rs 160.3 till the closing.
