Natural Gas rallies on warmer weather outlook
05/05/2015 09:39
Natural gas futures ended higher on Monday in the domestic and overseas market as investors and speculators booked fresh positions in the energy commodity as speculation of warmer than unusual weather in mid-May lifted the demand for the fuel from gas-fired power plants.
The Global Forecast System said that it expects “well-above normal temperatures” in the US Midwest and Northeast into early next week. At the MCX, Natural Gas futures for May 2015 contract closed at Rs 179.10 per 1 kg, up by 0.28 per cent after opening at Rs 176.6, against the previous closing price of Rs 178.6. It touched the intra-day high of Rs 180.10 till the closing.
05/05/2015 09:39
Natural gas futures ended higher on Monday in the domestic and overseas market as investors and speculators booked fresh positions in the energy commodity as speculation of warmer than unusual weather in mid-May lifted the demand for the fuel from gas-fired power plants.
The Global Forecast System said that it expects “well-above normal temperatures” in the US Midwest and Northeast into early next week. At the MCX, Natural Gas futures for May 2015 contract closed at Rs 179.10 per 1 kg, up by 0.28 per cent after opening at Rs 176.6, against the previous closing price of Rs 178.6. It touched the intra-day high of Rs 180.10 till the closing.
