Natural Gas futures rebound on demand outlook
26/05/2014 09:20
Natural Gas futures regained some lost ground on Friday as investors and speculators booked fresh positions in the energy commodity amid hopes that the arrival of the summer months may boost demand for the fuel which is used to fire up air conditioners. Warmer weather boosts need for using air conditioners, thereby spurring demand for gas-fired electricity. Natural Gas futures may continue the upward journey today on improving demand outlook for the heating fuel. At the MCX, Natural gas futures for May 2014 contract closed at Rs. 257 per mmBtu, up by 0.90 per cent, after opening at Rs 255.20, against the previous closing price of Rs 254.70. It touched an intra-day high of Rs 257.40.
26/05/2014 09:20
Natural Gas futures regained some lost ground on Friday as investors and speculators booked fresh positions in the energy commodity amid hopes that the arrival of the summer months may boost demand for the fuel which is used to fire up air conditioners. Warmer weather boosts need for using air conditioners, thereby spurring demand for gas-fired electricity. Natural Gas futures may continue the upward journey today on improving demand outlook for the heating fuel. At the MCX, Natural gas futures for May 2014 contract closed at Rs. 257 per mmBtu, up by 0.90 per cent, after opening at Rs 255.20, against the previous closing price of Rs 254.70. It touched an intra-day high of Rs 257.40.
