Natural Gas futures surge on supply data
13/06/2014 09:47
Natural Gas futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market after US gas supplies rose less than estimated last week, signaling improving demand for the fuel in the world’s biggest consumer. US gas stockpiles rose 107 billion cubic feet to 1.606 trillion cubic feet last week, the EIA said. Analysts were expecting US gas supplies to rise 111 billion cubic feet last week. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 281.90 per mmBtu, up by 4.68 per cent, after opening at Rs 269.50, against the previous closing price of Rs 269.30. It touched an intra-day high of Rs 282.10.
13/06/2014 09:47
Natural Gas futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market after US gas supplies rose less than estimated last week, signaling improving demand for the fuel in the world’s biggest consumer. US gas stockpiles rose 107 billion cubic feet to 1.606 trillion cubic feet last week, the EIA said. Analysts were expecting US gas supplies to rise 111 billion cubic feet last week. At the MCX, Natural gas futures for June 2014 contract closed at Rs. 281.90 per mmBtu, up by 4.68 per cent, after opening at Rs 269.50, against the previous closing price of Rs 269.30. It touched an intra-day high of Rs 282.10.
