Natural Gas rises despite mild weather
outlook
08/01/2015 09:48
Natural Gas futures ended higher in the domestic market on Wednesday as investors continued to asses latest weather forecasts to gauge heating demand in the US, the world’s biggest fuel user.
While a polar blast which may lead to frigid temperatures in the Northeast and Midwest US regions this week may boost heating demand, milder weather is likely to return over the course of next week or so, curbing heating use.
The WSI Corp called for milder temperatures in most of the lower 48 states from January 17 through January 21.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 184 per 1 kg, up by 0.55 per cent after opening at Rs 185.80, against the previous closing price of Rs 183. It touched the intra-day high of Rs 191.70 till the closing.
08/01/2015 09:48
Natural Gas futures ended higher in the domestic market on Wednesday as investors continued to asses latest weather forecasts to gauge heating demand in the US, the world’s biggest fuel user.
While a polar blast which may lead to frigid temperatures in the Northeast and Midwest US regions this week may boost heating demand, milder weather is likely to return over the course of next week or so, curbing heating use.
The WSI Corp called for milder temperatures in most of the lower 48 states from January 17 through January 21.
At the MCX, Natural Gas futures for January 2015 contract closed at Rs 184 per 1 kg, up by 0.55 per cent after opening at Rs 185.80, against the previous closing price of Rs 183. It touched the intra-day high of Rs 191.70 till the closing.
