Natural Gas Trading : NG futures plunged by nearly 2 per-cent in the native market on yesterday as investors, observers and speculators exited positions in the energy commodity as gas supplies reached a record high last week, raising concerns over a supply glut.
United States gas stockpiles elevated 15 billion cubic feet to an all-time high of 4 trillion cubic feet in the week ended November 13, 2015, the EIA told. The 5-year average injection for the same period was 30 billion cubic feet while stockpiles climbed 40 billion cubic feet in the same week a year ago.
However, total storage is 10.1 % high than a year-ago levels. At the MCX, Nov 2015 contract for Natural Gas futures ended at Rs 153.1 per mmBtu, went down by 1.8 %, after opening at Rs 155.1, in comparison to the previous closing price of Rs 155.9. It attained an intra-day low of Rs 152.6.
Read Other News : Mcx crude tips
However, total storage is 10.1 % high than a year-ago levels. At the MCX, Nov 2015 contract for Natural Gas futures ended at Rs 153.1 per mmBtu, went down by 1.8 %, after opening at Rs 155.1, in comparison to the previous closing price of Rs 155.9. It attained an intra-day low of Rs 152.6.
Read Other News : Mcx crude tips
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