Natural gas futures rose to Rs 139 per mmBtu on July 29 as participants increased their long positions. Gas price gained 4.4 percent on the NYMEX on July 28.
The commodity has been supported by hot weather in parts of the US, increased storm activity in the Gulf of Mexico and expectation of marginal rise in gas stocks.
In the futures market, natural gas for August delivery touched an intraday high of Rs 139.60 and a low of Rs 138.40 per mmBtu on the Multi-Commodity Exchange (MCX). So far in the current series, natural gas has touched a low of Rs 121.40 and a high of Rs 159.40.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.