Commodity updates : Natural Gas expands slump on storage data 4 Mar, 2016

Mcx : Natural Gas futures sank more than 3 per-cent in the native market on yesterday as investors, traders and speculators quit their positions in the energy commodity as a below average withdrawal in US(United States) gas inventories last week signaled weak requirement for the heating fuel in the world’s biggest fuel consuming nation.

United States gas supplies fell down by only 48 billion cubic feet previous week compared to a five-year average withdrawal of 137 billion cubic feet.

Total US(United States) storage levels at 2.536 trillion cubic feet are 45 per-cent high than year-ago levels and 35.6 per-cent above average for this time of year, a sign that the market remains oversupplied.

MCX : March 2016 contract for Natural Gas futures closed at Rs 111.7 per mmBtu, down by 3.12 per-cent, after unlocking at Rs 114.3, as compared to the previous ending price of Rs 115.3. It then, reached an intra-day low of Rs 110.9.

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Commodity tips : Today, Natural Gas slides down 19 feb

Yesterday, Natural Gas futures fell over 3 per-cent in the local market as investors and speculators exited positions in the energy commodity as warmer than average temperatures across parts of the US curbed the requirement for the heating fuel in the world’s largest gas consuming nation, overshadowing a big storage withdrawal.

The EIA reported that US gas supplies fell by 158 billion cubic feet to 2.706 trillion cubic feet last week, slightly above the forecast of 154 billion cubic feet by analysts, but below the five-year average of around 176 billion cubic feet, and above the 110 billion cubic feet drop witnessed last year.

Feb 2016 contract for Natural Gas futures ended at Rs 128 per mmBtu, down by 3.4 per cent, after opening at Rs 133.2, against the last ending price of Rs 132.5. Then, it attained an intra-day low of 127.5.

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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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Ncdex Chana closed low, Natural Gas sinks 15 Jan, 2016

Natural Gas futures for Jan 2016 contract ended at Rs 144.6 per mmBtu, went down by 5.37 per-cent, after unlocking at Rs 152.5, against the previous closing price of Rs 152.8.It touched an intra-day low of Rs 144.2.

Ncdex : Prices of Chana closed low by 0.21% yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states.

At the NCDEX, chana futures for Jan 2016 contract closed at Rs. 4,861 per quintal, down by 0.21 per-cent, after unlocking at Rs. 4,880 as compared to the previous closing price of Rs. 4,871. It reached an intra-day low of Rs. 4,861.

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Natural Gas spiked near 9% in domestic market 22 Dec, 2015

Natural Gas futures spiked around 9 per-cent in the native market on yesterday as investors, traders and speculators booked fresh positions in the energy commodity as colder weather in parts of the US(United States) bolstered the requirement outlook for the heating fuel in the world’s biggest gas consumer. The Commodity Weather Group called for cooler winter weather in the US Midwest in the up-coming days, raising hopes of a pickup in gas-fired heating demand at offices and homes.

Nearly 49 per-cent of US households use natural gas for heating purposes. Duration From the months November to March is the peak US gas heating season.

The newely sharp losses in NG(natural gas) amidst more than adequate storage levels also paved way for bargain buying, in the fuel, at existing levels.

MCX : December 2015 contract for Natural Gas futures ended at Rs 127.7 per mmBtu, up by 8.8 per cent, after unlocking at Rs 118.8, as compared to the previous closing price of Rs 117.4 It reached an intra-day high of Rs 128.

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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.

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Natural Gas Down 1.7 per cent in the Domestic Market

 

Commodity Updates - Natural Gas Down by over 1.7 per cent in the domestic market on Wednesday as investors and speculators left positions in the energy commodity tracking a weak trend in the overseas market amidst caution ahead of the weekly US storage data which may signal the strength of the fuel in the world’s biggest economy.

The EIA may on Thursday say that US gas inventories fell by 5 billion cubic feet in the week ended November 27, 2015. Gas supplies fell by 22 billion cubic feet in the same week a year ago, while the five- year average withdrawal for the same period was 11 billion cubic feet.

Latest weather forecasting models called for mild weather in the US in early December, limiting the need for gas-fired at offices and homes.At the MCX, Natural Gas futures for December 2015 contract closed at Rs 145.10 per mmBtu, down by 1.76 per cent, after opening at Rs 148.5, against the previous closing price of Rs 147.7. It touched an intra-day low of Rs 144.6.

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Natural Gas futures Extended Their Bearish Ride

 

Mcx commodity tips - Natural Gas futures extended their bearish ride, plummeting by over 2 per cent in the domestic market on Thursday as investors and wanderr exited positions in the energy commodity amidst record high storage levels.


Tepid gas-fired heating demand in the US amid a warmer than average start to the winter has pushed stockpiles of the fuel to an all-time high of 4.01 trillion cubic feet.

United States gas supplies climbed by 9 billion cubic feet in the week ended November 20/15, trumping analysts’ expectations for a rise of 4 billion cubic feet.

Stockpiles are above 16 per cent the year ago levels and about 6.7 per cent above the five-year average.

At the MCX, Natural Gas futures for December 2015 contract closed at Rs 150.7 per mmBtu, down by 2.5 per cent, after opening at Rs 153.5, against the previous closing price of Rs 154.5. It touched an intra-day low of Rs 150.2.

 

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Natural Gas futures Drop Ahead of Storage Data

commodity updates - Natural Gas futures Ended Down in the domestic market on Thursday as investors and speculators stayed cautious ahead of Thursday’s weekly storage data which may signal the strength of the demand for the heating fuel in the world’s biggest economy.
 

In the week ended November 6, US gas supplies climbed by 49 billion cubic feet, the EIA said.
 

Meanwhile, colder than normal weather forecasts in parts of the US bolstered the demand outlook for the heating fuel, trimming losses in natural gas futures. November to March is the peak US gas heating season. About 49 per cent of US households use natural gas for heating .
 

At the MCX, Natural Gas futures for November 2015 contract closed at Rs 155.9 per mmBtu, down by 0.95 per cent, after opening at Rs 157.1, against the previous closing price of Rs 157.4. It touched an intra-day low of Rs 154.6.

 

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Natural Gas futures spiked more than 3 per cent

Natural Gas futures spiked more than 3 per cent in the domestic market on Friday as investors and speculators booked newest positions in the energy commodity tracking a bullish trend in the overseas market as a smaller than expected increase in US stockpiles and cold weather forecasts boosted sentiment.

US gas supplies climbed 49 billion cubic feet to 3.978 trillion cubic feet in the week ended November 6, below the expected rise of 51 billion cubic feet, and down from the 52 billion cubic feet rise in the prior week. Supplies had risen 40 billion cubic feet in the same week last year while the five-year average increase was 30 billion cubic feet.

At the MCX, Natural Gas futures for November 2015 contract closed at Rs 155.1 per mmBtu, up by 3.06 per cent, after opening at Rs 151.4, against the previous closing price of Rs 150.5. It touched an intra-day high of Rs 157.5.

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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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Natural Gas Futures Tumbled by More than 2% in the Domestic Market

 Natural Gas futures tumbled by more than 2 per cent in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking weakness in the overseas market as a bigger than expected build in weekly stockpiles in the US signaled tepid demand for the fuel in the world’s biggest fuel consumer.

US gas stockpiles climbed by 100 billion cubic feet to 3.733 trillion cubic feet in the week ended October 9, 2015, topping analysts’ expectations for a rise of 93 billion cubic feet, and following a 95 billion cubic feet rise in the prior week, while the five-year average injection for the period was 87 billion cubic feet.

Total storage levels are 447 billion cubic feet higher than a year ago and 168 billion cubic feet above the five-year average for this time of the year.

At the MCX, Natural Gas futures for October 2015 contract closed at Rs 159.9 per mmBtu, down by 2.32 per cent, after opening at Rs 164.2, against the previous closing price of Rs 163.7. It touched an intra-day low of Rs 159.5.Read More -Natural Gas News

 

 

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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.

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Natural Gas Extends Losses On Weak Demand Outlook

Natural Gas futures tumbled more than 1.5 per cent in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market amidst expectations of a seasonal decline in demand as the end of the summer season curbs consumption of gas-fired electricity to run air conditioners at offices and homes.

NatGasWeather.com expects natural gas demand in the US to be low compared to normal through September 26, 2015.

About 49 per cent of US households use natural gas for cooling purposes.At the MCX, Natural Gas futures for September 2015 contract closed at Rs 169.5 per mmBtu, down by 1.57 per cent after opening at Rs 172, against the previous closing price of Rs 172.2. It touched the intra-day low of Rs 168 till the closing.

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