Natural gas futures fall on tepid global cues

Natural gas futures fall on tepid global cues

Natural gas has been trading higher than 20, 50, 100, and 200-day simple and exponential moving averages but lower than the five-day SMA and EMA on the daily chart.



Mumbai / October 13, 2021 / 03:20 PM IST





Natural gas futures on October 13 slumped as participants increased their short positions as seen by the open interest. The gas price had risen 2.99 percent yesterday on the NYMEX.

The energy commodity traded in the negative territory after a gap-down start in the afternoon session, tracking the muted global trend.

On the MCX, natural gas delivery for October fell Rs 5.70, or 1.38 percent, to Rs 408.60 per mmBtu at 1447 hours with a business turnover of 4,289 lots.

Gas delivery for November slides by Rs 5, or 1.17 percent, to Rs 421.50 with a business volume of 2,448 lots.

The value of October and November contracts traded so far is Rs 855.16 crore and Rs 75.68 crore, respectively.

MCX Enrgdex decreased by 30 points or 0.47 percent at 6,327 at 14:48. The index tracks the real-time performance of MCX Crude Oil and MCX Natural Gas futures.

“Natural gas price fell early but rebounded after breaking through support, which is an upward sloping