Natural Gas futures surge on warmer weather outlook
21/05/2014 09:26
Natural gas futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity tracking a firm global trend amid speculation that warmer than normal weather in the US may boost demand for the fuel which is used to fire up air conditioners. The MDA Weather Services predicted above normal temperatures across most of the lower 48 states through June 3. Natural Gas futures may continue the upward journey today on upbeat demand outlook while traders await the weekly supplies data. At the MCX, Natural gas futures for May 2014 contract closed at Rs. 266.90 per mmBtu, up by 1.37 per cent, after opening at Rs 262.80, against the previous closing price of Rs 263.30. It touched an intra-day high of Rs 267.90.
21/05/2014 09:26
Natural gas futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity tracking a firm global trend amid speculation that warmer than normal weather in the US may boost demand for the fuel which is used to fire up air conditioners. The MDA Weather Services predicted above normal temperatures across most of the lower 48 states through June 3. Natural Gas futures may continue the upward journey today on upbeat demand outlook while traders await the weekly supplies data. At the MCX, Natural gas futures for May 2014 contract closed at Rs. 266.90 per mmBtu, up by 1.37 per cent, after opening at Rs 262.80, against the previous closing price of Rs 263.30. It touched an intra-day high of Rs 267.90.
