Oil Marketing Companies Share Spurt On Iran Deal

Posted By:
Subscribe to GoodReturns

Shares in oil marketing companies rallied sharply on hopes that a Iran nuclear deal would keep crdude prices low for long.

Oil Marketing Companies Share Spurt On Iran Deal
Hindustan Petroleum Corporation: Quotes, News
BSE 460.65BSE Quote2.65 (0.58%)
NSE 460.35NSE Quote2.95 (0.64%)
Bharat Petroleum Corporation: Quotes, News
BSE 508.40BSE Quote3.95 (0.78%)
NSE 508.15NSE Quote5.45 (1.07%)
Lower crude prices is beneficial for oil marketing companies like Bharat Petroleum Corporation, Hindustan Petroleum and Indian Oil Corporation.

All of these shares were up between one and two per cent on the exchanges today. Earlier these week select world powers signed an agreement with Iran over its nuclear deal in exchange for lifting sanctions on Iran.

The lifting of these sanctions will allow Iran to sell crude oil, which will add to more crude in the international markets thus pushing crude prices even lower.

GoodReturns.in

Read more about: crude oil, omcs, bpcl, hpcl, indian oil
Story first published: Thursday, July 16, 2015, 10:41 [IST]
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