Natural Gas futures closed higher in the domestic and overseas market on Tuesday as the sharp losses in the energy commodity in the previous session offered investors and speculators good bargain buying opportunity, at existing levels.
Prices had plummeted on Monday amid speculation that the end of the winter season in the US may cut heating demand for the fuel in the world's biggest economy. About 49 per cent of US households use natural gas for heating purposes.
At the MCX, Natural Gas futures for April 2015 contract closed at Rs 161.5 per 1 kg, up by 0.75 per cent after opening at Rs 159.7, against the previous closing price of Rs 160.3. It touched the intra-day low of Rs 162.2 till the closing.