Page 3 - Natural Gas Price

MCX Crude Oil remains range-bound; Natural Gas can bounce back to Rs 255

The MCX Natural Gas futures need to sustain above Rs 209-level, break and sustained trade above Rs 224 can trigger a rally towards Rs 255.

Range-bound MCX Crude Oil may test Rs 6,100; Natural Gas in oversold zone

Natural Gas futures have tumbled over 74 per cent their record highs. The commodity is now seen trading below major monthly moving averages after two years.

MCX Crude oil may find support at Rs 6,400; Natural Gas could test Rs 227

On the upside, the Rs 6,700-odd level remains a major hurdle for Crude Oil futures; whereas, interim support for Natural Gas is placed at Rs 240.

Crude compulsions in Budget: Oil prices to put pressure on govt finances

Freeing the industry from administrative pricing could be the best way forward

Uptrend in Crude oil capped at Rs 6,760; Pivot for Natural Gas at Rs 285

In case Rs 285 holds, Natural Gas futures can potentially rally to Rs 344.

European gas slumps to 16-month low on back of strong supply outlook

Gas markets have turned calmer after a tumultuous period last year when energy prices surged to records and hammered economies everywhere

Crude Oil may weaken below Rs 6,340; key support for Natural Gas at Rs 333

On the downside, MCX Crude Oil January futures could slide to Rs 5,940 or even re-test the recent lows at Rs 5,850-level; Natural Gas seems on course to test Rs 290 level.

European gas prices fall to lowest since Feb 21, before Ukraine war began

Lower gas prices are also a relief for the European economy, which is pressured by high inflation rates

Immediate hurdle for Crude Oil seen at Rs 6,725; Natural Gas to test Rs 380

On the downside, key support for MCX Crude Oil stands at Rs 6,350, below which a steeper fall to Rs 4,800 seems possible. Rs 413 - 418 is the resistance zone for Natural Gas on Wednesday.

Pivot point for MCX Crude at Rs 6,300; Natural Gas Rs 441

On the downside, the MCX Crude Oil futures can re-test its recent low around Rs 5,850-level; whereas, the next support for beaten-down Natural Gas contract stands at Rs 401.

EU states agree $191 natural gas price cap to contain energy crisis

European Union (EU) member states have agreed to cap natural gas prices in the bloc at 180 euros ($191) per megawatt-hour (MWh) in an effort to ensure the security of energy supply

EU ministers trying, again, for compromise on natural gas price cap

European Union ministers were trying again on Monday to finalise a long-awaited deal to implement a natural gas price cap that they hope can help households and businesses better weather excessive price surges. The ministers have previously failed at overcoming their differences at five previous so-called emergency meetings, but several EU leaders said last week that fixing a maximum ceiling to pay for gas was likely to be achieved this time. We have defined the political framework that will allow our ministers to finalise the issue of a gas price cap," French President Emmanuel Macron said last week after a meeting of EU leaders in Brussels." The 27 nations have stuck together through nine rounds of sanctions against Russia over the war in Ukraine and energy-saving measures to avoid shortages of the fuel used to generate electricity, heat homes and power factories. But they have not been able to close a deal on setting a complicated price cap that had been promised in October as a

Immediate hurdle for Crude Oil seen at Rs 6,400; Natural Gas at Rs 589

On the downside, Rs 5,850 seems to be a good support for Crude Oil; Whereas Natural Gas futures have multiple supports as per the daily chart.

EU ministers again fail to reach agreement on gas price cap to curb costs

European Union energy ministers failed yet again to overcome their deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days if not this year, then later. The ministers emerged from their fifth emergency meeting empty-handed because they could not come to agreement on a maximum ceiling to pay for gas due to fear that global suppliers will simply bypass Europe when others offer more money. There was lots of progress but no final breakthrough yet, said German minister Robert Habeck. We were so close today, said Czech Industry Minister Jozef Sikela, adding the ministers would meet again next Monday. There will be only one open issue for the discussion on Monday and this is the price level triggering the mechanism which was the core dispute from the start. Sikela said no one asked for the issue to be taken up at Thursday's summit of EU leaders. The 27 nations have stuck together thr

Here's why MCX Crude Oil can crack to Rs 4,800-level; Natural Gas Rs 280

The MCX Crude Oil and Natural Gas futures seem to be placed on a slippery ground on multiple time-frames, as per the charts.

Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'

The committee has also recommended a ceiling price of $6.5 per mmBtu, which may be increased yearly by about $0.5 per mmBtu till 2027, Parikh said

Key support for MCX Crude Oil near Rs 6,200; Natural Gas may consolidate

The MCX Crude Oil December futures could test Rs 7,100-level on the upside as long as the commodity manages to sustain above the 100-WMA support.

India panel to favour linking local gas prices to crude basket: Report

In September India set up a panel headed by energy expert Kirit Parikh to review the India's gas pricing formula to ensure fair prices to consumers

MCX Crude Oil futures likely to consolidate, Rs 6,200 seen as major support

On the upside, the MCX Crude Oil December futures can test Rs 7,200 to Rs 7,400 levels during the consolidation phase.

Strong support for MCX Crude Oil seen at Rs 6,850, Natural Gas at Rs 475

On the upside, MCX Crude Oil November futures can jump to Rs 7,250-level, whereas Natural Gas futures can gain momentum above Rs 510-level.