Friday, 16 May 2014

CAPITAL STROKE COMMODITY UPDATE 16 MAY 2014: MCX NATURAL GAS

Natural gas trading range for the day is 251.7-275.7.
Natural gas prices shot up after data revealed inventories rose more than expected though still small enough to allay supply concerns.
EIA said that U.S. Natural Gas Storage rose by 105 billion cubic feet, up from 74 billion cubic feet in the preceding month.

U.S. stockpiles need to fill by November at the start of the heating season, which means quantities going into to storage must rise.
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