Natural Gas futures soared by nearly 2 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for above normal temperatures bolstered the demand outlook for the power plant fuel that is used in firing up air conditioners at offices and homes.The MDA Climatic Services predicted Strangely hot weather in the US Northeast, mid-Atlantic and Midwest from August 15 through August 24, 2015.About 49 % of US every day use natural gas for cooling purposes.
At the MCX, Natural Gas futures for August 2015 contract closed at Rs 182.10 per 1 kg, up by 1.51 per cent after opening at Rs 180.50, against the previous closing price of Rs 179.40. It touched the intra-day high of Rs 182.70 till the closing.
At the MCX, Natural Gas futures for August 2015 contract closed at Rs 182.10 per 1 kg, up by 1.51 per cent after opening at Rs 180.50, against the previous closing price of Rs 179.40. It touched the intra-day high of Rs 182.70 till the closing.
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