Tuesday, October 13, 2015

Natural Gas futures Climbed in the Domestic Market on Monday

Natural Gas futures climbed in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking gains in the overseas market as forecasts for cold temperatures across key gas consuming regions of the US bolstered the demand outlook for the heating fuel in the world’s biggest economy.

Latest weather forecasting models called for below-normal-temperatures throughout the East Coast from October 17 to October 21.

About 49 per cent of US households use natural gas for heating purposes.

At the MCX, Natural Gas futures for October 2015 contract closed at Rs 164.7 per mmBtu, up by 0.98 per cent, after opening at Rs 164, against the previous closing price of Rs 163.1. It touched an intra-day high of Rs 165.7.