Oil Related Stocks Close To 52-Week High As Crude Surges Past $70/ bl Levels

Shares of oil related companies' BPCL, IOC, BPCL and GSPL were in focus today after oil futures climbed above $70 levels as reports suggested that Saudi Arabia oil production facilities were attacked. Earlier, oil prices remained in check after the OPEC decided to keep the production of the commodity in check for the April month i.e. agreed not to enhance the production and hence the supply amid the coronavirus pandemic.

Oil Related Stocks Close To 52-Week High As Crude Surges Past $70/ bl Levels

Individually, BPCL also gained to day's high of Rs. 472 while its 52-day high of Rs. 482.40 per share.

IOC also neared its 52-week high of Rs. 105.25 as on a intra-day basis it surged to Rs. 105, while last was up by over 1.8% at Rs. 103.

ONGC was trading higher by 3.35% at Rs. 118.8 and hit day's and 52-week high of Rs. 122.35 intra-day and reports suggest that the stock has registered a breakout and may surge over 20% in the days to come.

GSPL shares hit day's high of Rs. 295.75 and its 52-week high was Rs. 311.45 per share. Last the stock traded down by 0.5%. Similar are the views for the GSPL stock and it too has been said to hit a breakout so a surge of 20% is seen for the counter too.

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