Natural Gas futures rebound on bargain buying
25/06/2014 09:25
Natural Gas futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as the recent slump in prices offered good bargain buying opportunity at existing levels, to investors. While latest weather forecasts showed milder weather across parts of central US, the southern region remains warm, supporting the demand outlook for gas-fired electricity used to power air conditioners. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 273.80 per mmBtu, up by 2.28 per cent, after opening at Rs 268, against the previous closing price of Rs 267.70. It touched an intra-day high of Rs 274.20.
25/06/2014 09:25
Natural Gas futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as the recent slump in prices offered good bargain buying opportunity at existing levels, to investors. While latest weather forecasts showed milder weather across parts of central US, the southern region remains warm, supporting the demand outlook for gas-fired electricity used to power air conditioners. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 273.80 per mmBtu, up by 2.28 per cent, after opening at Rs 268, against the previous closing price of Rs 267.70. It touched an intra-day high of Rs 274.20.
