Mild Weather outlook hits Natural Gas
07/05/2015 13:16
Natural Gas futures fell in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as forecasts for milder weather in the US curbed the demand for the fuel from gas-fired power plants.
The MDA Weather Services called for below-normal temperatures in central US states. All eyes are on the weekly EIA supplies data which may show an uptick of 74 billion cubic feet in US gas stockpiles last week, signaling weak demand for the fuel in the world’s biggest gas consumer.
At the MCX, Natural Gas futures for May 2015 contract is trading at Rs 177.50 per 1 kg, down by 0.73 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 177.20. (At 12:57 PM).
07/05/2015 13:16
Natural Gas futures fell in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as forecasts for milder weather in the US curbed the demand for the fuel from gas-fired power plants.
The MDA Weather Services called for below-normal temperatures in central US states. All eyes are on the weekly EIA supplies data which may show an uptick of 74 billion cubic feet in US gas stockpiles last week, signaling weak demand for the fuel in the world’s biggest gas consumer.
At the MCX, Natural Gas futures for May 2015 contract is trading at Rs 177.50 per 1 kg, down by 0.73 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 177.20. (At 12:57 PM).
