Natural Gas treads water
03/08/2016 14:14
Natural Gas futures were trading lower during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking weakness overseas as forecasts for less hot weather across the US in the next two weeks threatened to curb gas-fired air-conditioning demand for the fuel.
Analysts said that the worst of the heat for this year was likely over which could lead to more storage injections in the coming weeks.
At the MCX, Natural gas futures for August 2016 contract were trading at Rs 183.7 per mmbtu, down by 0.11 per cent, after opening at Rs. 183.1, against the previous closing price of Rs. 183.9. It touched the intra-day low of Rs. 183. (At 14:09 PM
03/08/2016 14:14
Analysts said that the worst of the heat for this year was likely over which could lead to more storage injections in the coming weeks.
At the MCX, Natural gas futures for August 2016 contract were trading at Rs 183.7 per mmbtu, down by 0.11 per cent, after opening at Rs. 183.1, against the previous closing price of Rs. 183.9. It touched the intra-day low of Rs. 183. (At 14:09 PM
