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Natural Gas ends tad higher ahead of storage data

By Religare
|

Natural gas futures scored mild gains in the domestic market on Wednesday as investors and speculators awaited the weekly US storage data to monitor the strength of the demand for the energy commodity in the world's biggest fuel consumer.

The EIA on Thursday is expected to show a US stockpile build of 70 billion cubic feet in the week ended August 14th, compared to the five-year average gain of 54 billion cubic feet, above the 65 billion cubic feet injection reported last week but below the 86 billion cubic feet build in the same week a year ago.

 

Total US natural gas storage at 2.977 trillion cubic feet last week was 2.8 per cent above the five-year average for this time of the year.

At the MCX, Natural Gas futures for August 2015 contract closed at Rs 177.50 per 1 kg, up by 0.06 per cent after opening at Rs 177.30, against the previous closing price of Rs 177.4. It touched the intra-day high of Rs 179.10 till the closing.

Story first published: Thursday, August 20, 2015, 12:30 [IST]
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