Natural Gas futures continue upward journey
16/06/2014 09:01
Natural Gas futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity amid hopes that summer temperatures in the US may boost the demand for the fuel which is used to fire up air conditioners. Latest weather forecasting models predicted warmer than normal weather in the US East and West coasts over the next few days, bolstering demand for firing up power plants. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 284.70 per mmBtu, up by 0.99 per cent, after opening at Rs 282.50, against the previous closing price of Rs 281.90. It touched an intra-day high of Rs 286.90.
16/06/2014 09:01
Natural Gas futures surged in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity amid hopes that summer temperatures in the US may boost the demand for the fuel which is used to fire up air conditioners. Latest weather forecasting models predicted warmer than normal weather in the US East and West coasts over the next few days, bolstering demand for firing up power plants. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 284.70 per mmBtu, up by 0.99 per cent, after opening at Rs 282.50, against the previous closing price of Rs 281.90. It touched an intra-day high of Rs 286.90.
