Natural gas is trading at 13- year highs, the gas prices have been rising from the month of January and it has just intensified after Russia invaded Ukraine. Last week was great as it gained 10.5 percent of gains.

There are various factors that have been supportive. There are worries about global energy supplies, and that continues to support the prices on the higher side.

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| Oil opens higher as OPEC warns of tight supply and Russian sanctions loom

Markets are looking at the reactions of European Union ban on coal imports from Russia. That starts from August and there are reports that there is a draft proposal ready with the European Union to talk about capping or curbing in some sense the import of oil and gas from Russia, and 40 percent of gas consumed in Europe actually comes in from Russia. So that is the reason that really has added a lot of premium onto those prices there.

Watch the accompanying video of CNBC-TV18’s Manisha Gupta for more details.

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