Mild weather forecasts hit Natural Gas
12/12/2014 09:13
Natural Gas futures brushed aside bullish weekly supply data and tumbled in the domestic and overseas market on Thursday on concerns that milder than usual winter weather may not spur the demand for the heating fuel.
About 49 per cent of US households use natural gas for heating purposes. November to March is the peak winter demand heating season in the US.
US gas supplies fell by 51 billion cubic feet in the week ended December 5, 2014, more than the 45 billion cubic feet estimated by analysts.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 228.30 per mmBtu, down by 2.01 per cent, after opening at Rs 231.90, against the previous closing price of Rs 223. It touched an intra-day low of Rs 226.70.
12/12/2014 09:13
Natural Gas futures brushed aside bullish weekly supply data and tumbled in the domestic and overseas market on Thursday on concerns that milder than usual winter weather may not spur the demand for the heating fuel.
About 49 per cent of US households use natural gas for heating purposes. November to March is the peak winter demand heating season in the US.
US gas supplies fell by 51 billion cubic feet in the week ended December 5, 2014, more than the 45 billion cubic feet estimated by analysts.
At the MCX, Natural gas futures for December 2014 contract closed at Rs. 228.30 per mmBtu, down by 2.01 per cent, after opening at Rs 231.90, against the previous closing price of Rs 223. It touched an intra-day low of Rs 226.70.
