Natural gas futures rose during noon trade in the domestic market on Thursday as investors eyed the weekly US storage data which may show the state of health of the demand for the fuel in the world’s biggest gas-consuming nation.
The EIA last week showed that US gas supplies had risen by 51 billion cubic feet in the week ended August 26, 2016.
However, with the peak summer demand for the power plant fuel now coming to an end, stockpiles may increase further in the coming weeks.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 182 per MMBtu, after opening at Rs. 178.9, against the previous closing price of Rs. 178.4. It touched the intra-day high of Rs. 188.9 ( 6:50 PM)
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