Natural Gas flat amid warmer weather outlook
31/03/2015 09:50
Natural Gas futures closed little changed in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the energy commodity amid speculation that the onset of spring weather in the US may bring warmer temperatures to the world’s biggest economy, curbing demand for the heating fuel.
Latest weather forecasting models called for near-normal temperatures across the 48 US states over the next two weeks.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.7 per 1 kg, up by 0.06 per cent after opening at Rs 167.50, against the previous closing price of Rs 166.6. It touched the intra-day high of Rs 168.5 till the closing.
31/03/2015 09:50
Natural Gas futures closed little changed in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the energy commodity amid speculation that the onset of spring weather in the US may bring warmer temperatures to the world’s biggest economy, curbing demand for the heating fuel.
Latest weather forecasting models called for near-normal temperatures across the 48 US states over the next two weeks.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.7 per 1 kg, up by 0.06 per cent after opening at Rs 167.50, against the previous closing price of Rs 166.6. It touched the intra-day high of Rs 168.5 till the closing.
