Natural Gas bulls rule the roost
26/09/2016 14:28
Natural gas futures jumped during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity amid a bullish global trend where prices bounced back from a two-session slump caused by worries of oversupplies. Natural gas supplies in the US rose by 52 billion cubic feet in the week ended September 16, 2016 to 3.551 trillion cubic feet, 4 per cent higher than levels at this time a year ago and 7.5 per cent above the five-year average for this time of year. At the MCX, natural gas futures for September 2016 contract is trading at Rs 198.9 per mmbtu, up by 1.38 per cent, after opening at Rs 196.6, against a previous close of Rs 196.2. It touched the intra-day high of Rs 199.6 (at 13:24 PM).
