UPDATES ON JUNE 11 2008

JUNE 11 WEDNESDAY


SHORT TERM TREND : BEARISH : TARGET RS 526

LONG TERM TREND : BULLISH : TARGET RS 630


Natural Gas Falls as Oil Slips, Cooler Weather to

Curb Demand .

Natural gas in New York declined after crude oil

fell and lower temperatures were forecast to

reduce demand.

Oil fell a second day as the dollar climbed against

the euro and yen, curbing the appeal of commodities

to investors. Near- record-high temperatures in the

Midwest and Northeast, two of the largest gas

-consuming regions, will begin to ease tomorrow,

trimming demand for air conditioning, according


to forecaster AccuWeather.com of State College,

Pennsylvania.

Natural gas for July delivery fell 16.9 cents, or

1.3 percent, to settle at $12.435 per million

British thermal units at 3:01 p.m. on the New

York Mercantile Exchange. Gas earlier rose as

high as $12.743 per million Btu. Futures are 66

percent higher this year. On this day in 2007,

gas settled at $10.024.

With a stronger dollar and crude under pressure,

natural gas could sell off quite a bit here,''

said Michael Rose, trading director at Angus

Jackson Inc. in Fort Lauderdale, Florida.



Production of domestic gas available for

sale is expected to increase by 6 percent

this year, compared with 4.6 percent

forecast in May, the Energy Department said

in its monthly Short- Term Energy Outlook

released today.