Natural Gas futures ascend by over 3 per-cent in the native market on yesterday amid hopes that frigid weather in parts of the US(United States) may increase winter heating demand for the fuel in the world’s biggest gas consuming nation.
Latest weather forecasting models have called for cold weather across the US Midwest in end December, raising hopes of a increase in requirement for gas-fired heating at offices and homes.
Around 49 per-cent of US households use natural gas for heating purposes. November to March is the peak United States gas heating season.
At the MCX, Natural Gas futures for Dec 2015 contract ended at Rs 128.8 per mmBtu, up by 3.37 per-cent, after unlocking at Rs 125.4, against the previous closing price of Rs 124.6. It attained an intra-day high of Rs 129.4
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Latest weather forecasting models have called for cold weather across the US Midwest in end December, raising hopes of a increase in requirement for gas-fired heating at offices and homes.
Around 49 per-cent of US households use natural gas for heating purposes. November to March is the peak United States gas heating season.
At the MCX, Natural Gas futures for Dec 2015 contract ended at Rs 128.8 per mmBtu, up by 3.37 per-cent, after unlocking at Rs 125.4, against the previous closing price of Rs 124.6. It attained an intra-day high of Rs 129.4
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