Monday, December 14, 2015

Natural Gas futures losses in the Domestic Market
Natural gas update - Natural Gas futures extended losses in the domestic market on Friday, sinking to the lowest level since 2012 in the overseas market as investors and speculators exited positions in the energy commodity as warmer-than-average temperatures in the US curbed gas-fired heating demand, keeping storage to a near-record high of 4 trillion cubic feet. Despite a 76 billion cubic feet stockpile withdrawal in the week ended December 4, natural gas inventories in the US at 3.880 trillion cubic feet remain 11.7 per cent higher than the year ago levels and 6.1 per cent above the five-year average. About 49 per cent of US households use natural gas for heating purposes. At the MCX, Natural Gas futures for December 2015 contract closed at Rs 134.3 per mmBtu, down by 0.74 per cent, after opening at Rs 134.2, against the previous closing price of Rs 135.3. It touched an intra-day low of Rs 131.8.