Natural gas slips despite bullish storage data
05/08/2016 11:55
Natural gas futures fell during late morning trade in the domestic market on Friday as investors and speculators cast aside a surprise drop in US gas supplies last week. The EIA reported that US natural gas stockpiles fell 6 billion cubic feet to 3.288 trillion cubic feet in the week ended July 29, 2016. Total US natural gas storage remains 11.8 per cent higher than levels at this time a year ago and 14.1 per cent above the five-year average for this time of year. At the MCX, Natural gas futures for July 2016 contract were trading at Rs 189.5 per mmbtu, down by 0.79 per cent, after opening at Rs. 189.5, against the previous closing price of Rs. 191. It touched the intra-day low of Rs. 188.4. (At 11:51 AM).
05/08/2016 11:55
