Free MCX Tips: Natural gas futures surged by more than 4.5% 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% of United State 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.
At the MCX, Natural Gas futures for Feb 2016 contract closed at Rs 155.9 per mmBtu, up by 4.56 per cent, after starting at Rs 150.5, against the last closing price of Rs 149.1. It touched an intra-day high of 156.6.
About 49% of United State 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.
At the MCX, Natural Gas futures for Feb 2016 contract closed at Rs 155.9 per mmBtu, up by 4.56 per cent, after starting at Rs 150.5, against the last closing price of Rs 149.1. It touched an intra-day high of 156.6.
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