Natural Gas futures ended higher in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market after a lower than expected stockpiles-build in the US signaled improving demand for the fuel in the world’s biggest economy. US gas stockpiles rose by 4 billion cubic feet last week, compared to analysts’ estimates of a 13 billion cubic feet increase.
At the MCX, Natural gas futures for April 2014 contract closed at Rs. 283.40 per mmBtu, up by 2.50 per cent, after opening at Rs 276.70, against the previous closing price of Rs 276.50. It touched an intra-day high of Rs 284.10.
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