For Quick Alerts
For Daily Alerts

OMCs Trade Lower After Oil Rises To Near 6-Month High


Oil Marketing Companies in intra-day trade on Monday were under pressure after crude hit a near 6-month high after a news report suggested that the US President Donald Trump is expected to solicit all importers of oil from Iran to terminate their purchases from the country or be ready to face sanctions.

 OMCs Trade Lower After Oil Rises To Near 6-Month High

Brent futures surged to a 5-month high after the Washington Post said US Secretary of State Mike Pompeo will announce "that as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate."

Hindustan Petroleum Corporation was down 5.16% at Rs 252.85 per share, followed by Indian Oil Corporation (IOC) which was down 3.17% and was trading at Rs 151 apiece. BPCL also traded lower by almost 5% at Rs. 344.30.

Meanwhile, Sensex also traded lower by 0.76% or 260.82 at 38879.46 and Nifty was dragged lower to 11662.50 with loss of 90.3 points (-0.77%)

Read more about: crude oil omc ioc bpcl
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more