Natural Gas Updates - Mild Weather outlook hits Natural Gas

Natural gas futures tanked more than 2.5 per cent in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as forecasts for mild weather across parts of the US threatened to curb the heating demand for the fuel in the world biggest economy.

Updated weather forecasting models called for warmer than above temperatures to return to the US east coast in the coming week, dimming the need for gas-fired heating at offices and homes.
 

About 49 per cent of US households use natural gas for heating purposes. November to March is the peak US gas heating season
 

At the MCX, Natural Gas futures for January 2016 contract closed at Rs 152.7 per mmBtu, down by 2.74 per cent, after opening at Rs 156, against the previous closing price of Rs 157 .It touched an intra-day low of Rs 152.3.