Natural Gas spurts ahead of weekly supplies data
16/04/2015 09:48
Natural Gas futures surged in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as investors eyed the release of the weekly US storage data on Thursday to gauge the strength of the demand for the weather-sensitive fuel in the world’s biggest fuel consumer.
US gas stockpiles likely climbed 45 billion cubic feet in the week ended April 10, 2015, 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 163.90 per 1 kg, up by 3.73 per cent after opening at Rs 157.10, against the previous closing price of Rs 158. It touched the intra-day high of Rs 164.2 till the closing.
16/04/2015 09:48
Natural Gas futures surged in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as investors eyed the release of the weekly US storage data on Thursday to gauge the strength of the demand for the weather-sensitive fuel in the world’s biggest fuel consumer.
US gas stockpiles likely climbed 45 billion cubic feet in the week ended April 10, 2015, 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 163.90 per 1 kg, up by 3.73 per cent after opening at Rs 157.10, against the previous closing price of Rs 158. It touched the intra-day high of Rs 164.2 till the closing.
