US supplies data lifts Natural Gas
27/11/2014 09:36
Natural Gas futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity after US gas supplies fell more than expected last week, signaling a pickup in demand for the heating fuel in the world’s biggest economy as the winter season peaks.
US gas stockpiles fell 162 billion cubic feet last week, after declining 17 billion cubic feet in the prior week.
Analysts were expecting gas stockpiles to fall 150 billion cubic feet last week.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 272.50 per mmBtu, up by 1.08 per cent, after opening at Rs 272.80, against the previous closing price of Rs 269.60. It touched an intra-day high of Rs 276.60.
27/11/2014 09:36
Natural Gas futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity after US gas supplies fell more than expected last week, signaling a pickup in demand for the heating fuel in the world’s biggest economy as the winter season peaks.
US gas stockpiles fell 162 billion cubic feet last week, after declining 17 billion cubic feet in the prior week.
Analysts were expecting gas stockpiles to fall 150 billion cubic feet last week.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 272.50 per mmBtu, up by 1.08 per cent, after opening at Rs 272.80, against the previous closing price of Rs 269.60. It touched an intra-day high of Rs 276.60.
