MCX natural gas up 2.70% on Monday, follows last week's 11% gains
Golden Investment Research Private Limited
MUMBAI (Commodity Online): MCX Natural Gas prices are surging post the recent horrible downward plunge.
After gaining more than 11% last week, MCX Natural gas tips prices have opened higher and trading over 2% gain as of Monday morning trade.
Last week, gas prices had risen by over 11%.MCX Natural gas February contract is trading at Rs 140.70 after opening the day at Rs 138.30 as of 11:54 Am IST.
MCX Natural gas March contract is trading at $2.815/ factors still remain bearish for MCX Natural gas prices.
The simple law of supply-demand indicates high vulnerability to the downside. US MCX Natural Gas tips inventories are almost 20% higher above their 5 year averages. This huge supply glut is not being reduced by any additional demand.
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