Natural Gas futures sank over 1 per cent in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for above-normal temperatures in the eastern US in late January threatened to curb the demand for gas-fired heating at offices in homes in the world’s biggest economy. About 49 per cent of US households use natural gas for heating purposes. November to March is the peak US gas heating season. Adequate storage levels also weighed on sentiment at supplies remain 14.7 per cent higher than levels at this time a year ago and 12.7 per cent above the five-year average for this time of year. At the MCX, Natural Gas futures for January 2016 contract closed at Rs 142.9 per mmBtu, down by 1.18 per cent, after opening at Rs 145.6, against the previous closing price of Rs 144.6.It touched an intra-day low of Rs 141.9.
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