Natural Gas lower ahead of US storage data
04/08/2016 12:56
Natural gas futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the energy commodity ahead of US gas inventory data later today which may signal the state of health of the demand for the fuel in the world’s biggest gas consuming nation.
The EIA may say that US gas supplies rose by 10 billion cubic feet last week, the smallest build for the week ended July 29 since at least 2010 as recent heat wave bolstered gas-fired air-conditioning demand.
At the MCX, Natural gas futures for July 2016 contract were trading at Rs 191 per mmbtu, down by 0.31 per cent, after opening at Rs. 191.10, against the previous closing price of Rs. 191.6. It touched the intra-day low of Rs. 190. (At 12:53 PM).
