Natural Gas MCX Tips Today – Buy Call Blast 193.80 To 198.60 – Jo Dar Gaya Samjho Mar Gaya – Neal Bhai, Natural Gas yesterday settled up by 7.01% at 195.4 as liquefied natural gas (LNG) exports rise and on worries production will be shut in again later this week with another hurricane heading into the Gulf of Mexico.
Tropical Storm Delta is expected to strengthen into a hurricane before slamming into the Gulf Coast between Louisiana and Florida on Friday.Despite the rise in the futures, spot gas prices for Monday fell to their lowest in years in several regions of the United States and Canada as mild weather and coronavirus demand destruction cut usage of the fuel for heating and industrial purposes.
Gas speculators, meanwhile, boosted their net long positions on the New York Mercantile and Intercontinental Exchanges last week for a second week in three on expectations energy demand will rise as the economy rebounds once state governments lift more coronavirus-linked lockdowns.
Data provider Refinitiv said output in the Lower 48 U.S. states averaged 86.8 billion cubic feet per day (bcfd) so far in October, down from a four-month low of 87.2 bcfd in September. With milder weather coming, Refinitiv projected demand, including exports, would slip from 86.8 bcfd this week to 86.4 bcfd next week.
Natural Gas MCX Tips Today
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