Natural Gas shakes off large inventory build
17/04/2015 09:43
Natural Gas futures rose in the domestic market on Thursday as investors shrugged off a larger than expected stockpiles build in the US which signaled weakening demand for the weather sensitive commodity in the world’s biggest economy.
US gas supplies climbed by 63 billion cubic feet in the week ended April 10, 2015, topping expectations of a rise of 53 billion cubic feet and following a 15 billion cubic feet increase in the previous week while supplies rose 22 billion cubic feet in the year ago period with the five-year average gain at 35 billion cubic feet.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.90 per 1 kg, up by 1.83 per cent after opening at Rs 163, against the previous closing price of Rs 163.9. It touched the intra-day high of Rs 168.2 till the closing.
17/04/2015 09:43
Natural Gas futures rose in the domestic market on Thursday as investors shrugged off a larger than expected stockpiles build in the US which signaled weakening demand for the weather sensitive commodity in the world’s biggest economy.
US gas supplies climbed by 63 billion cubic feet in the week ended April 10, 2015, topping expectations of a rise of 53 billion cubic feet and following a 15 billion cubic feet increase in the previous week while supplies rose 22 billion cubic feet in the year ago period with the five-year average gain at 35 billion cubic feet.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.90 per 1 kg, up by 1.83 per cent after opening at Rs 163, against the previous closing price of Rs 163.9. It touched the intra-day high of Rs 168.2 till the closing.
