Profit booking drags down Natural Gas
06/05/2015 09:43
Natural Gas futures closed lower in the domestic market on Tuesday as investors and speculators booked profits in the energy commodity after stellar gains in recent sessions when outlook for warmer weather in the US in the coming days bolstered cooling demand for the fuel from gas-fired power plants.
Updated weather forecasts called for 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 177.10 per 1 kg, down by 1.12 per cent after opening at Rs 178.8, against the previous closing price of Rs 179.1. It touched the intra-day low of Rs 176.5 till the closing.
06/05/2015 09:43
Natural Gas futures closed lower in the domestic market on Tuesday as investors and speculators booked profits in the energy commodity after stellar gains in recent sessions when outlook for warmer weather in the US in the coming days bolstered cooling demand for the fuel from gas-fired power plants.
Updated weather forecasts called for 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 177.10 per 1 kg, down by 1.12 per cent after opening at Rs 178.8, against the previous closing price of Rs 179.1. It touched the intra-day low of Rs 176.5 till the closing.
