Natural gas futures jump 3.26% to Rs 215.10 per mmBtu on demand uptick
In the futures market, natural gas for February delivery touched an intraday high of Rs 216.50 and an intraday low of Rs 205.60 per mmBtu on MCX.
Mumbai / February 02, 2021 / 02:59 PM IST
Natural gas futures soared to Rs 215.10 per mmBtu on February 2 as participants increased their long positions as seen by the open interest. Natural gas prices rose 11.2 percent yesterday on the NYMEX.
The price surged on increased fuel demand as the Northeastern US has been hit by a powerful winter snowstorm, pummeling a vast swath stretching from Pennsylvania through New England and causing widespread disruption in New York City and other major urban centres in the region.