Oil exploration stocks rally; Dolphin Offshore, Aban Offshore up over 7%
Selan Exploration, Hindustan Oil Exploration Company and Jindal Drilling were up between 5% and 6 on BSE.
 "Oil hits two-month high on tighter US market, Venezuela sanctions risk")
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The United States is considering imposing sanctions on Venezuela's vital oil sector in response to Sunday's election of a constitutional super-body that Washington has denounced as a "sham" vote.
Shares of oil exploration, equipment and services companies were trading higher on the bourses by up to 11% in the morning deal after oil prices soared more than 3% on Monday, with Brent hitting its highest in more than two years.
Dolphin Offshore Enterprises, Aban Offshore, Selan Exploration Technology, Hindustan Oil Exploration Company and Jindal Drilling were up between 5% and 11% on BSE. Oil and Natural Gas Corporation (ONGC) and Oil India up 2% each, as compared to 0.12% decline in the S&P BSE Sensex at 09:27 AM.
The November Brent crude futures contract settled up$2.16, or 3.8 percent, at $59.02 a barrel, its highest since July, 2015. US West Texas Intermediate crude for November delivery rose $1.56, or 3 percent, to settle at $52.22 a barrel, the highest since April, the Reuters report suggested.
Dolphin Offshore Enterprises, Aban Offshore, Selan Exploration Technology, Hindustan Oil Exploration Company and Jindal Drilling were up between 5% and 11% on BSE. Oil and Natural Gas Corporation (ONGC) and Oil India up 2% each, as compared to 0.12% decline in the S&P BSE Sensex at 09:27 AM.
The November Brent crude futures contract settled up$2.16, or 3.8 percent, at $59.02 a barrel, its highest since July, 2015. US West Texas Intermediate crude for November delivery rose $1.56, or 3 percent, to settle at $52.22 a barrel, the highest since April, the Reuters report suggested.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| DOLPHIN OFFSHORE | 97.40 | 88.05 | 10.6 |
| ABAN OFFSHORE | 192.30 | 178.45 | 7.8 |
| JINDAL DRILLING | 168.50 | 159.05 | 5.9 |
| SELAN EXPL. TECH | 190.20 | 180.20 | 5.6 |
| HIND.OIL EXPLOR. | 85.20 | 81.30 | 4.8 |
| ALPHAGEO (INDIA) | 802.35 | 771.25 | 4.0 |
| O N G C | 168.15 | 164.45 | 2.3 |
| OIL INDIA | 336.50 | 331.20 | 1.6 |