Natural Gas futures end higher on warm weather outlook
03/06/2014 09:16
Natural Gas futures ended higher in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as the arrival of warmer weather in the US bolstered the demand outlook for the fuel which is used for powering air conditioners. Latest weather forecasts signaled 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. 273.30 per mmBtu, up by 0.77 per cent, after opening at Rs 271.90, against the previous closing price of Rs 271.20. It touched an intra-day high of Rs 273.70.
03/06/2014 09:16
Natural Gas futures ended higher in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as the arrival of warmer weather in the US bolstered the demand outlook for the fuel which is used for powering air conditioners. Latest weather forecasts signaled 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. 273.30 per mmBtu, up by 0.77 per cent, after opening at Rs 271.90, against the previous closing price of Rs 271.20. It touched an intra-day high of Rs 273.70.
