Free MCX Tips: Natural Gas futures ended on an upbeat note
in the domestic market on Friday as investors and speculators booked
fresh positions in the energy commodity tracking a bullish trend in the
overseas market as forecasts for cold weather in the US bolstered the
demand outlook for the heating fuel in the world’s biggest fuel
consumer.
Latest weather forecasting models called for a return to cool weather in the US Midwest and mid-Atlantic regions.
November to March is the peak US gas heating season. About 49 per cent of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for November 2015 contract closed at
157.6 Rs per mmBtu, up by 0.32 per cent, after opening at Rs 156.7,
against the previous closing price of Rs 159.1. It touched an intra-day
high of Rs 159.1.
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