Weather outlook lifts Natural Gas 24/08/2016 13:54


Weather outlook lifts Natural Gas
24/08/2016 13:54
Natural gas futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather in parts of the US bolstered the demand outlook for gas-fired air conditioning.
Latest weather forecasting models have predicted hot weather in the central and eastern US over the next eight to 15 days.
At the MCX, Natural gas futures for August 2016 contract were trading at Rs 185.30 per mmbtu, up by 0.65 per cent, after opening at Rs. 184.90, against the previous closing price of Rs. 184.10. It touched the intra-day high of Rs. 186.10. (At 13:49 PM).
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