Thursday, 28 January 2016
Best Mcx Market Update On Natural gas
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Natural Gas futures surged by more than 1.5 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for colder temperatures across parts of the US in the next two weeks bolstered the demand outlook for the heating fuel 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.
The focus today will on the release of the weekly US storage data by the EIA which may show a 206 billion cubic feet withdrawal in stockpiles in the week ended January 22, 2016.