Warm Weather outlook lifts Natural gas
06/05/2015 12:14
Natural Gas futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather in the US in the coming days bolstered the demand outlook for the fuel as cooling demand rises.
Updated weather forecasts called for above normal temperatures in the US Midwest and Northeast into early next week, bolstering demand from gas-fired power plants.
At the MCX, Natural Gas futures for May 2015 contract is trading at Rs 177.50 per 1 kg, up by 0.23 per cent after opening at Rs 177.7, against the previous closing price of Rs 177.1. It touched the intra-day high of Rs 178.40. (At 11:59 AM).
06/05/2015 12:14
Natural Gas futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather in the US in the coming days bolstered the demand outlook for the fuel as cooling demand rises.
Updated weather forecasts called for above normal temperatures in the US Midwest and Northeast into early next week, bolstering demand from gas-fired power plants.
At the MCX, Natural Gas futures for May 2015 contract is trading at Rs 177.50 per 1 kg, up by 0.23 per cent after opening at Rs 177.7, against the previous closing price of Rs 177.1. It touched the intra-day high of Rs 178.40. (At 11:59 AM).
