On Nifty Oil & Gas, 14 scrips advanced while only 1 scrip declined.
At around 11.14 am, the Nifty Oil & Gas was trading at 6,811.95 up 89.85 points or 1.34%. The index has touched an intraday high and low of 6,835.55 and 6,774.55 respectively.
On the index, Adani Total Gas locked at 5% upper circuit and was the top gainer. Gujarat Gas and Gail followed by surging 4.7% and 3.7% respectively.
Mahanagar Gas and Indian Oil jumped more than 2% each. While Oil India advanced 1.8%, HPCL and Castrol India zoomed 1.5% each.
ONGC, Petronet LNG and BPCL were higher by around 1% each. Reliance Industries was marginally up.
Indraprastha Gas and Gulf Oil traded flat but in green.
However, GSPL was the only underperformer tumbling by 2.3%.
Overnight, the Brent crude oil futures and U.S. West Texas Intermediate(WTI) crude futures gained by more than 5% after the US approved Pfizer Inc/BioNTech SE Covid-19 vaccine that stirred hopes among investors about higher fuel demand. Also, the upside in crude prices was aided by the dollar that had its steepest one-day dive since May.
Both benchmark crude prices had their best day in over six months.