Monday, 4 April 2016

Today's Natural Gas Market Update

Natural Gas ended in the red in the domestic and overseas market on Friday as investors and speculators cut positions in the energy commodity on worries that the market remains oversupplied.

 At 2.468 trillion cubic feet in the week ended March 25, 2016, total gas storage levels in the US remain nearly 52 per cent above average for this time of year as a moderate winter suppressed demand for the heating fuel while rising US production also bolstered supplies. 

At the MCX, Natural Gas futures for April 2016 contract closed at Rs 129.7 per mmBtu, down by 0.15 per cent, after opening at Rs 130.2, against the previous closing price of Rs 129.9. It touched an intra- day low of Rs 128.8.

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