Friday, October 30, 2015

Natural Gas Ended Higher in the Domestic Market

Natural Gas ended higher 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 as a smaller than expected rise in US storage levels signaled a pickup in demand for the fuel in the world’s biggest gas consumer.

US gas supplies climbed by 63 billion cubic feet to 3.877 trillion cubic feet in the week ended October 23, 2015, the EIA said. Analysts were expecting US gas supplies to climb by 69 billion cubic feet last week, while the five-year average injection was 81 billion cubic feet and supplies rose 87 billion cubic feet in the same period a year ago.
At the MCX, Natural Gas futures for November 2015 contract closed at Rs 149.3 per mmBtu, up by 0.13 per cent, after opening at Rs 150.10, against the previous closing price of Rs 149.10. It touched an intra-day high of Rs 155.9.
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