Natural
Gas futures plummeted in the domestic market on Thursday as investors
and speculators exited positions in the energy commodity as a hefty
storage build signaled that the market remains more than adequately
supplied even as demand subsided amidst the end of the summer heat
season.
US
gas supplies climbed 98 billion cubic feet to 3.538 trillion cubic
feet in the week ended September 25, 2015, the EIA said. The gains in
supplies topped the five-year average injection of 94 billion cubic
feet, while total storage levels were 15 per cent higher than
year-ago levels.
At
the MCX, Natural Gas futures for Oct 2015 contract closed at Rs 161.9
per mmBtu, down by 2.88 per cent, after opening at Rs 167, against
the previous closing price of Rs 166.7. It touched an intra-day low
of Rs 161.3.
Read More - Mcx commodity tips
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