Natural Gas futures extended an advance in the domestic market on Tuesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather across the southern and central parts of the US through August 15 bolstered the demand outlook for the power plant fuel that is used in firing up air conditioners at offices and homes.
About 49 % of US households use natural gas for cooling purposes.
About 49 % of US households use natural gas for cooling purposes.
However, total storage levels at 2.912 trillion cubic feet are 22.5 per cent above year ago levels and 2.2 % higher than the five-year average, a sign that the market remains more than adequately supplied, trimming gains in the fuel.
At the MCX, Natural Gas futures for August 2015 contract closed at Rs 183 per 1 kg, up by 0.49 % after opening at Rs 182, against the previous closing price of Rs 182.10. It touched the intra-day high of Rs 183.70 till the closing.
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