Comments
Indian oil marketing companies rose between 2.8 per cent and 3.8 per cent after oil prices declined overnight. The oil prices were on track for their biggest monthly fall since November after US President Donald Trump said he would impose tariffs on imports from Mexico, stoking fears about global economic growth.
Related news:Trump vows to impose 5% tariffs on goods from Mexico
Crude prices have also been under pressure from a smaller-than expected decline in US stockpiles.
Hindustan Petroleum Corp (HPCL) shares hit their highest since May 2018. Bharat Petroleum Corp (BPCL) shares touch their highest level since June 2018, while Indian Oil Corp (IOC) hit highest since March 26.
So far this year, IOC were stock up 18.2 per cent, HPCL up 25.4 per cent and BPCL up 12.4 per cent. S&P BSE Oil & Gas index hit over 15-month high, rising as much as 1.3 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.