Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

Natural gas futures firm at Rs 215.20 per mmBtu on lower inventory buildup

The momentum indicator Relative Strength Index (RSI) is at 65.70 which indicates upbeat movement in the prices.

Mumbai / April 30, 2021 / 02:54 PM IST

Natural gas futures jumped to Rs 215.20 per mmBtu on April 30 as participants increased their long positions as seen by the open interest. Natural gas had declined 1.71 percent yesterday on the NYMEX.

The energy commodity traded in the positive territory after a gap-up start in the afternoon session on lower inventory buildup.

The commodity has been trading higher than 5, 20, 50, 100 and 200 days' moving averages on a daily chart. The momentum indicator Relative Strength Index (RSI) is at 65.70 which indicates upbeat movement in the prices.

The US Energy Information Administration (EIA) reported that the country's natural gas inventories rose by 15 billion cubic feet (Bcf) for the week ended April 23 as against market expectations of a 24 Bcf rise. Natural gas in storage was 1,898 Bcf as of April 23, 2021.