Monday, January 25, 2016

Despite cold weather, Natural Gas closed low 25 Jan, 2016

Natural Gas futures closed low in the local market on Friday last week even as a massive blizzard rocked the US East Coast, bringing life to almost a standstill and raising hopes of a pickup in requirement for the heating fuel in the

About 49 per-cent of US(United States) households use natural gas for heating purposes. November to March is the peak US gas heating season.

Despite a newely drop in stockpiles, total US gas storage levels remain 17 per-cent above the five-year average for present time of year, indicating that the market is more than adequately supplied, weighing on prices.

MCX : Natural Gas futures for Jan 2016 contract ended at Rs 145.4 per mmBtu, down by 0.14 per cent, after opening at Rs 146, against the previous ending price of Rs 145.6. It attained an intra-day low of 143.10.
world’s largest economy. Cold temperatures tend to boost requirement for gas-fired heating at offices and homes.

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