Natural gas futures surged to Rs 191.30 per mmBtu on January 4 as participants increased their long positions as seen by the open interest. Natural gas price had declined Rs 2.10 or 1.12 percent last week on the MCX.
The number of rigs drilling natural gas in the US was unchanged at 83 rigs for the week to December 31, said Baker Hughes in a weekly report.
Natural gas prices were supported by rising US exports and forecast of cold weather which may increase heating demand.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.