Monday, 1 February 2016
Best Mcx Market Update On Natural Gas
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Natural gas futures surged by more than 4.5 per cent in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity amidst hopes that cold weather in the US in early to mid- February may bolster the demand for gas-fired heating in the world’s biggest gas consuming nation, continuing to erode storage levels.
About 49 per cent of US households use natural gas for heating purposes. November to March is the peak US gas heating season US gas stockpiles fell by 211 billion cubic feet to 3.086 trillion cubic feet in the week ended January 22, 2016.