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MTECHTIPS:-NATURAL GAS
On a weekly basis, Nymex natural gas prices declined by more than 5 percent on account of more than expected rise in US natural gas inventories along with strength in the DX.However, sharp downside in the prices was cushioned as a result of expectations of cooler winter weather ahead. Natural gas prices touched a low of $3.355/mmbtu in the last week and closed at $3.394/mmbtu in the last trading session of the week.On the MCX, November crude oil contract declined by 7 percent and closed at Rs.181.90/mmbtu on Friday after touching a low of Rs.179.60/mmbtu during the week.
On a weekly basis, Nymex natural gas prices declined by more than 5 percent on account of more than expected rise in US natural gas inventories along with strength in the DX.However, sharp downside in the prices was cushioned as a result of expectations of cooler winter weather ahead. Natural gas prices touched a low of $3.355/mmbtu in the last week and closed at $3.394/mmbtu in the last trading session of the week.On the MCX, November crude oil contract declined by 7 percent and closed at Rs.181.90/mmbtu on Friday after touching a low of Rs.179.60/mmbtu during the week.
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