Page 14 - Natural Gas
MCX Crude Oil futures may drop to Rs 7,100; Natural Gas in oversold zone
The MCX Crude Oil has near support at Rs 7,740, below which it can slide towards the 200-DMA at Rs 7,100. Natural Gas may test Rs 410-odd level, while a bounce to Rs 500-odd level cannot be ruled out.
 "MCX Crude Oil futures may drop to Rs 7,100; Natural Gas in oversold zone")
Natural gas soars 700%, becoming driving force in the new cold war
In short, natural gas now rivals oil as the fuel that shapes geopolitics. And there isn't enough of it to go around
 "Natural gas soars 700%, becoming driving force in the new cold war")
Russian rouble up; Gazprom shares plummet after it skips dividend
Gazprom shares fell 27% to 218 roubles ($4.16) by 0941 GMT after the company said its shareholders had decided against distributing dividends on the 2021 results
 "Russian rouble up; Gazprom shares plummet after it skips dividend")
Bias for MCX Crude Oil seems positive, Natural Gas may remain volatile
The key support levels for the MCX Crude Oil and Natural Gas futures for the remainder of the week are Rs 8,545 and Rs 502.30, respectively.
 "Bias for MCX Crude Oil seems positive, Natural Gas may remain volatile")
European gas futures gain as Germany sounds alarm over Russia disruption
Front-month benchmark futures rose as much as 5.8% after German Economy Minister Robert Habeck enacted the "alarm" phase of the emergency plan, saying that Europe's biggest economy is in a gas crisis
 "European gas futures gain as Germany sounds alarm over Russia disruption")
MCX Crude Oil may drop to Rs 8,050; Natural Gas likely to bounce back
The MCX Crude Oil futures seem on course to test the 100-DMA around Rs 8,050-level; Select momentum oscillators on Natural Gas have hit oversold territory, thus a pull-back rally can be expected.
 "MCX Crude Oil may drop to Rs 8,050; Natural Gas likely to bounce back")
Higher prices of natural gas take the steam out of gas utility stocks
However, despite the likely pressure on volumes and margins, and having cut earnings estimates, most analysts are positive on the natural gas sector
 "Higher prices of natural gas take the steam out of gas utility stocks")
Russia reduces natural gas through European pipeline again amid sanctions
The state-owned energy giant said that deliveries through the Nord Stream 1 pipeline to Germany would be cut again Thursday, bringing the overall reduction through the undersea pipeline to 60%
 "Russia reduces natural gas through European pipeline again amid sanctions")
MCX Crude Oil may test Rs 9,000-mark; Key hurdle for Natural Gas at Rs 590
The MCX Natural Gas futures can slide all the way towards its 100-DMA placed at Rs 485-level; Crude Oil prices may see share reaction on breakout of the Rs 9,000-9,700 expected trading band.
 "MCX Crude Oil may test Rs 9,000-mark; Key hurdle for Natural Gas at Rs 590")
Key trading levels to watch out on MCX Crude Oil, Natural Gas futures
The MCX Natural Gas futures are likely to trade with a bullish bias for the remainder of the week as long as prices sustain above Rs 709.50.
 "Key trading levels to watch out on MCX Crude Oil, Natural Gas futures")
Upside for MCX Crude Oil may be capped at Rs 9,200 for now
On the downside, the MCX Crude Oil futures may test support near Rs 8,600-level; Natural Gas futures are likely to consolidate with support seen at Rs 600-mark.
 "Upside for MCX Crude Oil may be capped at Rs 9,200 for now")
India's core sector output expands at six-month high of 8.4% in April
The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022.
 "India's core sector output expands at six-month high of 8.4% in April")
GAIL's natural gas supply reaches HPCL Mittal Energy refinery in Bathinda
The dedicated pipeline, which will supply 1 million standard cubic meters per day of gas to HMEL, has been laid at a cost of Rs 142 crore
 "GAIL's natural gas supply reaches HPCL Mittal Energy refinery in Bathinda")
Ukrainians stop Russian natural gas at one hub, make gains in east
In 11 weeks, the war has played out on battlefields in Ukrainian towns and cities but also in energy and financial markets
 "Ukrainians stop Russian natural gas at one hub, make gains in east")
Bias turns negative for MCX Crude Oil; Natural Gas futures may consolidate
The MCX Crude Oil futures may test Rs 7,540-odd level this week; while on the upside MCX Natural Gas May futures are likely to face resistance around Rs 590.
Desperate search on for survivors in Cuba hotel blast that killed 27
A natural gas leak was the apparent cause of Friday's blast at the 96-room hotel.
 "Desperate search on for survivors in Cuba hotel blast that killed 27")
LIVE: Prez Ram Nath Kovind to visit two Caribbean nations from May 15 to 21
For all the latest news and developments from across the globe, stay tuned
 "LIVE: Prez Ram Nath Kovind to visit two Caribbean nations from May 15 to 21")
Italy lowers fuel taxes to help tackle surging prices due to Ukraine war
A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8
 "Italy lowers fuel taxes to help tackle surging prices due to Ukraine war")
A core problem in domestic oil: Widening gap between targets and output
A persistent gap between output and targets has played its part in subdued core-sector growth
 "A core problem in domestic oil: Widening gap between targets and output")
Russia suspending natural gas supplies over ruble to Poland, Bulgaria
Russia is suspending natural gas deliveries to Poland beginning Wednesday morning after Poland refused a demand to pay for its supplies in Russian rubles, Polish officials said