Natural Gas futures end lower ahead of supplies data
19/06/2014 09:21
Natural Gas futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity ahead of data which may show a larger than average injection in US gas supplies last week, signaling weak demand for the fuel in the world’s biggest fuel consumer. However, forecasts for warmer weather in the US bolstered the demand outlook for the fuel which is used to fire up air conditioners. The MDA Weather Services in Maryland predicted above -normal temperatures in the US Southeast and Midwest through June 22. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 280.40 per mmBtu, down by 1.68 per cent, after opening at Rs 284, against the previous closing price of Rs 285.20. It touched an intra-day low of Rs 279.80.
19/06/2014 09:21
Natural Gas futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity ahead of data which may show a larger than average injection in US gas supplies last week, signaling weak demand for the fuel in the world’s biggest fuel consumer. However, forecasts for warmer weather in the US bolstered the demand outlook for the fuel which is used to fire up air conditioners. The MDA Weather Services in Maryland predicted above -normal temperatures in the US Southeast and Midwest through June 22. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 280.40 per mmBtu, down by 1.68 per cent, after opening at Rs 284, against the previous closing price of Rs 285.20. It touched an intra-day low of Rs 279.80.
