Agri tips & updates : Natural Gas futures closed low in the native market on yesterday as investors and speculators cut risky bets in the energy commodity as traders weighed mixed weather forecasts which offered little clarity over the requirement outlook in the world’s largest fuel consumer, the US.
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| Agri tips & Updates |
While newly weather forecasting models called for hot weather across most parts of the southern US, cooler temperatures were expected to engulf most parts of the Great Lakes, Northeast and Midwest-regions as the week progresses.
Around 49 per-cent of US(United states) households use natural gas for cooling motives. Natural Gas is helpful in firing up power plants as need for cooling arises at offices and homes at the time of hot weather.
At the MCX, September 2015 contract for Natural Gas futures closed at Rs 177.90 per mmBtu, 0.28 per-cent down after opening at Rs 178.80, against its recent closing price of Rs 178.40. It reached the intra-day low of Rs 177.60 till the time of closing.
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