MCX Natural Gas-Natural Gas futures up amid smaller than expected US stockpiles gain
MCX Natural Gas futures rose in the domestic market on Today as investors and speculators created fresh positions in the energy commodity as a smaller than expected rise in US gas stockpiles signaled a pickup in the demand for the fuel in the world’s biggest economy. US gas inventories rose 89 billion cubic feet to 2.053 trillion cubic feet in the week ended May 17, below the forecasted 92 billion cubic feet gain. Forecasts for above-normal temperatures from the US Northeast to the Midwest next week raised hopes of a pickup in air-conditioning demand, bolstering the demand prospects for gas-fired electricity. At the MCX, Natural Gas for the May 2013 contract is trading at 238 per mmBtu, up by 0.51 per cent, after opening at 236.70, against a previous close of 236.80. It touched an intra-day high of 239.
MCX Crude Oil- Crude Oil futures rebound on US demand hopes
MCX Crude oil futures rose in the domestic market on Today after a report said that the number of Americans who filed for unemployment benefit claims fell last week, signaling a pickup in the US labour market recovery, improving the demand outlook for the fuel. US jobless claims fell 23,000 to 340,000 last week, the Labour Department said. Further, US new home sales surged last month, adding to optimism over the health of the world’s biggest economy. New home sales in the US surged by 2.3 per cent to an annualized pace of 454,000 in April 2013, the second-highest level since the recession, above analysts’ expectation of 430,000, the Commerce Department said. Private sector output in the Euro area shrank at the weakest pace in three months in May as manufacturing and services downturn eased a sign that the 17-member economy may be emerging from a recession, improving the demand outlook for the fuel. At the MCX, Crude Oil futures, for the June 2013 contract, is trading at Rs 5,238 per barrel, up by 0.44 per cent, after opening at Rs 5,215, against a previous close of Rs 5,215.
MCX Natural Gas futures rose in the domestic market on Today as investors and speculators created fresh positions in the energy commodity as a smaller than expected rise in US gas stockpiles signaled a pickup in the demand for the fuel in the world’s biggest economy. US gas inventories rose 89 billion cubic feet to 2.053 trillion cubic feet in the week ended May 17, below the forecasted 92 billion cubic feet gain. Forecasts for above-normal temperatures from the US Northeast to the Midwest next week raised hopes of a pickup in air-conditioning demand, bolstering the demand prospects for gas-fired electricity. At the MCX, Natural Gas for the May 2013 contract is trading at 238 per mmBtu, up by 0.51 per cent, after opening at 236.70, against a previous close of 236.80. It touched an intra-day high of 239.
MCX Crude Oil- Crude Oil futures rebound on US demand hopes
MCX Crude oil futures rose in the domestic market on Today after a report said that the number of Americans who filed for unemployment benefit claims fell last week, signaling a pickup in the US labour market recovery, improving the demand outlook for the fuel. US jobless claims fell 23,000 to 340,000 last week, the Labour Department said. Further, US new home sales surged last month, adding to optimism over the health of the world’s biggest economy. New home sales in the US surged by 2.3 per cent to an annualized pace of 454,000 in April 2013, the second-highest level since the recession, above analysts’ expectation of 430,000, the Commerce Department said. Private sector output in the Euro area shrank at the weakest pace in three months in May as manufacturing and services downturn eased a sign that the 17-member economy may be emerging from a recession, improving the demand outlook for the fuel. At the MCX, Crude Oil futures, for the June 2013 contract, is trading at Rs 5,238 per barrel, up by 0.44 per cent, after opening at Rs 5,215, against a previous close of Rs 5,215.
No comments:
Post a Comment