Expect Natural gas prices to trade negative: Sushil Finance

Sushil Finance's report on Natural Gas

NYMEX Natural Gas prices decreased by 0.78 percent in the yesterday’s trading session on the back of milder weather forecast, as it may slow down the demand for air conditioning. Further, strength in DX added downside pressure on the prices. In the Indian Markets, Natural gas prices increased by 0.91 percent on the back of depreciation in the Indian Rupee. Natural Gas prices touched an intraday high of 213.2/mmbtu and closed at 210.1/ mmbtu. Outlook: We expect Natural gas prices to trade on the negative note on the back of mild weather forecast, as it may slow down the demand for air conditioning. Further, strength in DX may add downside pressure on the prices. In the Indian Markets, depreciation in the Indian Rupee may cushion sharp downside in the prices. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More