Mcx commodity tips: Natural Gas traders exited positions in the energy commodity with prices of the weather-sensitive fuel ending lower by about 1 per cent in the domestic market on Tuesday amid concerns that an above normal supply build may erase a deficit to the five-year average. Analysts expect a 99 billion cubic feet uptick in US gas stockpiles last week, compared to a five-year average of 89 billion cubic feet. The EIA’s storage report is due on Thursday. However, weather forecasts remain supportive with above-normal temperatures across the eastern half of the US likely to bolster cooling demand for the fuel.
At the MCX, Natural Gas futures for May 2015 contract closed at Rs 189.7 per 1 kg, down by 0.99 per cent after opening at Rs 191.90, against the previous closing price of Rs 191.60. It touched the intra-day low of Rs 187.8 till the closing.
