Agri Tips - On Wednesday, Natural Gas futures ended higher in
the native market as investors and speculators booked fresh positions
in the energy commodity amid speculation that above normal
temperatures in parts of the US in the coming days may boost demand
for the power plant fuel as usage of air conditioning rises at
offices and homes. Moreover, caution ahead of Thursday’s weekly
storage numbers which may show a larger than average inventory build
in the world’s biggest economy curbed gains in the energy
commodity. The EIA on Thursday may show a 70 billion cubic feet
uptick in stockpiles for the week ended July 17, 2015, topping the 53
billion cubic feet five-year average injection. Last week’s build
stood at 99 billion cubic feet.
At the MCX, Natural Gas futures for July 2015
contract closed at Rs 183.90 per 1 kg, up by 0.49% after opening at
Rs 183.10, against its preceding closing price of Rs 183. It touched
the intra-day high of Rs 185.60 till the time of closing.
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