Natural Gas futures end higher on weaker rupee
27/05/2014 09:24
Natural Gas futures closed higher in the domestic market on Monday as a sharp depreciation in the Indian rupee against the US dollar more than offset a subdued trend in the energy commodity in the overseas market. A weaker rupee against the greenback exerted upward pressure on domestic natural gas prices. Natural gas futures ended lower in the overseas market on Monday as markets in the US were closed due to the Memorial Day holiday while investors assessed the outlook for weekly US supplies. At the MCX, Natural gas futures for May 2014 contract closed at Rs. 259.60 per mmBtu, up by 1.01 per cent, after opening at Rs 257, against the previous closing price of Rs 257. It touched an intra-day high of Rs 260.20.
27/05/2014 09:24
Natural Gas futures closed higher in the domestic market on Monday as a sharp depreciation in the Indian rupee against the US dollar more than offset a subdued trend in the energy commodity in the overseas market. A weaker rupee against the greenback exerted upward pressure on domestic natural gas prices. Natural gas futures ended lower in the overseas market on Monday as markets in the US were closed due to the Memorial Day holiday while investors assessed the outlook for weekly US supplies. At the MCX, Natural gas futures for May 2014 contract closed at Rs. 259.60 per mmBtu, up by 1.01 per cent, after opening at Rs 257, against the previous closing price of Rs 257. It touched an intra-day high of Rs 260.20.
