In the futures market, natural gas for September delivery touched an intraday high of Rs 184.80 and an intraday low of Rs 181.50 per mmBtu on the MCX
Natural gas futures jumped to Rs 184.30 per mmBtu on September 4 as participants increased their long positions. Prices closed flat on the NYMEX on September 3.
The US Energy Information Administration (EIA) reported that US natural gas inventories jumped 35 billion cubic feet (bcf) for the week-ended August 28.
In the futures market, natural gas for September delivery touched an intraday high of Rs 184.80 and a low of Rs 181.50 per mmBtu on the Multi-Commodity Exchange (CX). So far in the current series, the commodity has touched a low of Rs 131.30 and a high of Rs 203.
Natural gas futures for September delivery gained Rs 2.3, or 1.26 percent, to Rs 184.30 per mmBtu at 14:56 hours IST on a business turnover of 10,236 lots.
The same for October delivery was up Rs 0.7, or 0.33 percent, at Rs 215.2 per mmBtu on a business volume of 2,603 lots.
The value of September and October’s contracts traded so far is Rs 887.03 crore and Rs 15.94 crore, respectively.
Sumeet Bagadia, Executive Director, Choice Broking, expects MCX Natural Gas futures to trade bullish in the coming week."
At 09:29 (GMT), natural gas gained 0.72 percent at $2.50 per mmBtu in New York.
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