Natural Gas ended higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the international market as traders looked ahead to weekly inventory data set for release on 05 Nov, which may indicate the strength of demand for the fuel in the world’s biggest fuel consumer.
The EIA may say on Thursday that US gas supplies probably rose 60 billion cubic feet in the week ended October 30, below the prior week’s 63 billion cubic feet injection and compared to a 91 billion cubic feet build in the same period a year ago and a 68 billion cubic feet five-year average increase.
November to March is the peak US gas heating season. About 49% cent of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for November 2015 contract closed at Rs 149.7 per mmBtu, up by 0.54 per cent, after opening at Rs 149.5, against the previous closing price of Rs 148.9. It touched an intra-day high of Rs 152.4.
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At the MCX, Natural Gas futures for November 2015 contract closed at Rs 149.7 per mmBtu, up by 0.54 per cent, after opening at Rs 149.5, against the previous closing price of Rs 148.9. It touched an intra-day high of Rs 152.4.
Read More - free commodity Tips
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