Natural gas lower ahead of storage data
18/08/2016 15:03
Natural gas futures were trading lower during noon trade in the domestic market on Thursday as investors and speculators exited positions in the energy commodity ahead of weekly US stockpile data to gauge the strength of the demand for the fuel in the world’s biggest consumer of gas.
Gas supplies in the US are likely to have risen in the range of 24 billion cubic feet and 35 billion cubic feet in the week ended August 12, the EIA may say on Thursday.
In the previous week, US storage levels witnessed a gain of 29 billion cubic feet while the year ago rise was 52 billion cubic feet and the five-year average at 57 billion cubic feet.
At the MCX, Natural gas futures for August 2016 contract were trading at Rs 175.5 per mmbtu, down by 0.34 per cent, after opening at Rs. 175.2, against the previous closing price of Rs. 176.1. It touched the intra-day low of Rs. 175.2. (At 14:55 PM).
18/08/2016 15:03
Gas supplies in the US are likely to have risen in the range of 24 billion cubic feet and 35 billion cubic feet in the week ended August 12, the EIA may say on Thursday.
In the previous week, US storage levels witnessed a gain of 29 billion cubic feet while the year ago rise was 52 billion cubic feet and the five-year average at 57 billion cubic feet.
At the MCX, Natural gas futures for August 2016 contract were trading at Rs 175.5 per mmbtu, down by 0.34 per cent, after opening at Rs. 175.2, against the previous closing price of Rs. 176.1. It touched the intra-day low of Rs. 175.2. (At 14:55 PM).
