Bearish supplies data takes toll on Natural Gas
08/05/2015 09:31
Natural Gas futures tumbled in the domestic market on Thursday as investors and speculators exited positions in the energy commodity after US gas supplies climbed more than expected last week, signaling weakening demand for the fuel in the world’s biggest fuel consumer.
US gas supplies climbed by 76 billion cubic feet in the week ended May 1, 2015 at 1.786 trillion cubic feet, topping analysts’ estimates of a 75 billion cubic feet rise and following the previous week’s 81 billion cubic feet uptick.
At the MCX, Natural Gas futures for May 2015 contract closed at Rs 175.7 per 1 kg, down by 1.73 per cent after opening at Rs 177.5, against the previous closing price of Rs 178.8. It touched the intra-day low of Rs 174.5 till the closing
08/05/2015 09:31
Natural Gas futures tumbled in the domestic market on Thursday as investors and speculators exited positions in the energy commodity after US gas supplies climbed more than expected last week, signaling weakening demand for the fuel in the world’s biggest fuel consumer.
US gas supplies climbed by 76 billion cubic feet in the week ended May 1, 2015 at 1.786 trillion cubic feet, topping analysts’ estimates of a 75 billion cubic feet rise and following the previous week’s 81 billion cubic feet uptick.
At the MCX, Natural Gas futures for May 2015 contract closed at Rs 175.7 per 1 kg, down by 1.73 per cent after opening at Rs 177.5, against the previous closing price of Rs 178.8. It touched the intra-day low of Rs 174.5 till the closing
