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| Agri tips |
Agri tips - Yesterday, Natural Gas
futures bounced by nearly 2 per-cent in the native market.As investors
and observers booked fresh positions in the energy commodity as
forecasts for hot temperatures across parts of the US bolstered the
requirement outlook for the fuel which is used to fire up power plants
as need for cooling arises at offices and homes during hot weather.
Newly weather forecasting models have called for hot weather in the southern parts of the US(United states), making stronger the need for gas-fired cooling.
Around 49 per-cent of US households use natural gas for cooling purposes. The US is the world’s largest consumer of the fuel. September 2015 contract for Natural Gas futures closed at Rs 181.40 per mmBtu, up by 1.97 per cent after opening at Rs 178, as compared to its previous ending price of Rs 177.90. It reached the intra-day high of Rs 181.70 till the time of trading.
Newly weather forecasting models have called for hot weather in the southern parts of the US(United states), making stronger the need for gas-fired cooling.
Around 49 per-cent of US households use natural gas for cooling purposes. The US is the world’s largest consumer of the fuel. September 2015 contract for Natural Gas futures closed at Rs 181.40 per mmBtu, up by 1.97 per cent after opening at Rs 178, as compared to its previous ending price of Rs 177.90. It reached the intra-day high of Rs 181.70 till the time of trading.
Read more : Agri tips
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