Finance

In Evening Times Of Trade Natural Gas Gains Profits Of 3.45%

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Natural gas raised to Rs 135 per million British Thermal Units on May 26 as people increased their long positions.Natural gas futures ended last week with a gain of 4.75 %.The US natural gas rig count remained constantly+ at record low of 79 rigs.In the futures market, natural gas for moth of May was touched an intra day high of Rs 136 and an intraday low of Rs 129.10 per million British Thermal Units on MCX. So far in the current series, natural gas has touched a low of Rs 121.70 and a high of Rs 163.80.Natural gas delivery for May gained profits by Rs 4.5, or 3.45 percent, to Rs 135 per million British Thermal Units at 20:14 hours IST with a business turnover of 317 lots.Natural gas delivery for June jumped Rs 3.50, or 2.46 percent, to Rs 146 per mmBtu with a business volume of 5,872 lots. The far month July contract was higher Rs 2.70, or 1.8 percent, to Rs 152 per million British Thermal Units with a volume of 480 lots.

The value of both the months of May and June contracts traded so far is nearly 100 crore crores and Rs 998.61 crore of rupees, respectively. MCX Natural Gas price has formed multiple support zone near Rs 127, price is expected to trade positively. Any breakout above Rs 132 would push price higher towards Rs 138-140 level in intra day,

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