In the futures market, natural gas for November delivery touched an intraday high of Rs 222.10 and an intraday low of Rs 218.80 per mmBtu on MCX.
Natural gas futures traded firm at Rs 220.90 per mmBtu on November 11 as participants increased their long positions as seen by the open interest. Natural gas prices had risen 3.1 percent on Tuesday on the NYMEX.
The prices were supported by strong LNG exports, tightening US gas stocks, progress on the vaccine front, recovery in crude price and increased storm activity in the Atlantic.
In the futures market, natural gas for November delivery touched an intraday high of Rs 222.10 and an intraday low of Rs 218.80 per mmBtu on MCX. So far in the current series, natural gas has touched a low of Rs 210.10 and a high of Rs 251.30.
Natural gas delivery for November gained Rs 1, or 0.45 percent, to Rs 220.90 per mmBtu at 14:25 hours IST with a business turnover of 13,004 lots.
Natural gas delivery for December edged higher by Rs 1.40, or 0.61 percent, to Rs 231.10 per mmBtu with a business volume of 1,342 lots.
The value of November and December contracts traded so far is Rs 1,217.61 crore and Rs 34.78 crore, respectively.
Natural gas may witness choppy trade amid mixed factors and positioning ahead of the weekly report; however, the general bias is weak, said Kotak Securities.
At 08:57 (GMT), the natural gas price soared 0.78 percent quoting at $2.97 per mmBtu in New York.
For all commodities-related news, click here