Global Natural gas futures dropped from a 1 calendar week high yesterday next a small-scale increment inward US stockpiles. The commodity continued to ease today every bit well, currently trading at $ 2.700 per mmbtu, downwards 0.4 portion on the day.
MCX Natural Gas August futures are trading at Rs 178.70 per mmbtu, downwards 0.8 portion on the twenty-four hours later trading every bit depression every bit Rs 178.20 per mmbtu.
The US Energy Information Administration (EIA) reported yesterday that US natural gas stocks increased past times 22 billion cubic feet for the calendar week ending August 12.
The five-year average for the calendar week is an injection of roughly 57 billion cubic feet, too concluding year’s storage add-on for the calendar week totaled 52 billion cubic feet. Natural gas inventories rose past times 29 billion cubic feet inward the calendar week ending August 5.
Earlier this week, the environmental impact assessment projected that global natural gas production volition rising from an estimated 342 billion cubic feet per twenty-four hours inward 2015 to 554 billion cubic feet per twenty-four hours inward 2040.
That’s an increment of 62 percent. The component subdivision of production attributed to shale resources is projected to rising from 42 billion cubic feet per twenty-four hours to 168 billion cubic feet per day, a jump of 400 percent. Some lxx portion of that production volition come upwards from simply half dozen countries: the United States, Canada, China, Argentina, United Mexican States too Algeria.
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