FREE MCX TIPS | Natural Gas futures ended on a flat note in the Asian market on Wednesday as investors and speculators stayed on the sidelines ahead of the weekly US storage data set for release on Thursday which may show that stockpiles shrank by a smaller-than-average amount last week, signaling weak heating demand for the fuel in the world’s biggest gas consuming nation.
The EIA may today show a stockpile withdrawal of 63 billion cubic feet in the week ended December 4, compared to a five-year average decline of 65 billion cubic feet.
A warmer –than-average winter season, thus far, in the US has limited demand for gas-fired heating in offices and homes.
At the MCX, Natural Gas futures for December 2015 contract closed at Rs 138.7 per mmBtu, unchanged, after opening at Rs 139.2, against the previous closing price of Rs 138.7.
The EIA may today show a stockpile withdrawal of 63 billion cubic feet in the week ended December 4, compared to a five-year average decline of 65 billion cubic feet.
A warmer –than-average winter season, thus far, in the US has limited demand for gas-fired heating in offices and homes.
At the MCX, Natural Gas futures for December 2015 contract closed at Rs 138.7 per mmBtu, unchanged, after opening at Rs 139.2, against the previous closing price of Rs 138.7.
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