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Natural gas futures up 1.34% to Rs 196.30 per mmBtu on positive overseas cues

In the futures market, natural gas for February delivery touched an intraday high of Rs 198.30 and an intraday low of Rs 195 per mmBtu on MCX.

Mumbai / January 29, 2021 / 03:23 PM IST
Natural Gas

Natural Gas

Natural gas futures rose to Rs 196.30 per mmBtu on January 29 as participants increased their long positions as seen by the open interest. Natural gas price had declined 1.4 percent yesterday on the NYMEX on lesser drawdown of stock.

Natural gas traded in the green after a gap up open in the afternoon session tracking firm overseas cues.

The US Energy Information Administration (EIA) reported that US natural gas inventories decreased by 128 Bcf for the week ended January 22 against market expectation of 136 Bcf decline.

Natural gas prices were supported by a forecast of cold weather in the early parts of February which may boost heating demand.