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: Quotes, News
    BSE 285.4BSE Quote0 (0.00%)
    NSE 285.35NSE Quote0 (0.00%)
    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.


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