Natural Gas futures soared by over 1.8 per cent in the domestic market on Friday as investors and speculators booked New positions in the energy commodity tracking a firm trend in the overseas market as forecasts for chilly weather across key US gas consuming nations bolstered the demand outlook for the heating fuel.
Latest weather forecasting models called for a cold front to hit northern US in mid-November, which may boost demand for gas-fired heating.
About 49 per% of United State households use natural gas for heating purposes.
At the MCX, Natural Gas futures for November 2015 contract closed at Rs 152 per mmBtu, up by 1.81 per cent, after opening at Rs 148.7, against the previous closing price of Rs 149.3. It touched an intra-day high of Rs 152.9.
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At the MCX, Natural Gas futures for November 2015 contract closed at Rs 152 per mmBtu, up by 1.81 per cent, after opening at Rs 148.7, against the previous closing price of Rs 149.3. It touched an intra-day high of Rs 152.9.
Read More – Natural Gas
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