Natural Gas futures continue upward journey
04/06/2014 09:29
Natural Gas futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer temperatures in the US bolstered the demand outlook for the fuel which is used for powering air conditioners. The US is the largest consumer of natural gas, accounting for over 21 per cent of global natural gas consumption. Latest weather forecasts showed above-normal temperatures across the lower 48 US states through the first week of June. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 275.80 per mmBtu, up by 0.91 per cent, after opening at Rs 273, against the previous closing price of Rs 273.30. It touched an intra-day high of Rs 277.40
04/06/2014 09:29
Natural Gas futures ended higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer temperatures in the US bolstered the demand outlook for the fuel which is used for powering air conditioners. The US is the largest consumer of natural gas, accounting for over 21 per cent of global natural gas consumption. Latest weather forecasts showed above-normal temperatures across the lower 48 US states through the first week of June. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 275.80 per mmBtu, up by 0.91 per cent, after opening at Rs 273, against the previous closing price of Rs 273.30. It touched an intra-day high of Rs 277.40
