Oil Exploration Shares Surge As Crude Prices Rally

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Shares in oil exploration companies surged in trade after crude oil prices jumped a huge 4 per cent in the international markets.

Oil Exploration Shares Surge As Crude Prices Rally
Cairn India jumped 6 per cent and was last trading at Rs 147, while ONGC was trading with gains of 5 per cent in trade and Oil India was up 3 per cent.

Brent Crude jumped a huge 4 per cent after report that the GDP in the US grew at a faster pace than expected. Fresh measures in China to boost economic development also helped the recovery in crude oil.

Shares like Cairn India have recently fallen to 52-week lows on worries of economic growth and incrased supplies.

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Read more about: cairn india, oil india, ongc
Story first published: Friday, August 28, 2015, 11:42 [IST]
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