Oil Marketing Company Stocks Gain As Crude Oil Slumps

Posted By:
Subscribe to GoodReturns

Shares in oil marketing companies rallied after crude oil prices slumped. An upgrade on stocks like HPCL and BPCL by a leading foreign broking firm, also pushed these stocks higher.

Oil Marketing Company Stocks Gain As Crude Oil Slumps
BPCL was trading with gains of 3 per cent, while HPCL was trading with gains of 2 per cent. Crude oil prices slumped in trade after worries over Chinese consumption. Extremely high production in Saudi Arabia also kept a lid on prices.
Brent Crude was trading at $55 a barrel on record Saudi output.

Poor data from China also saw selling pressure in crude oil.

GoodReturns.in

Read more about: hpcl, bpcl, crude oil
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC