ONGC, Oil India, Petronet LNG jump up to 7% amid steady rise in oil prices

Oil prices jumped on Monday to their highest in over two months.

Shares of oil and gas companies were trading with decent gains on Tuesday as the oil prices extended gains into the fourth straight session, amid signs that producers are cutting output as demand picks up, given more countries are relaxing the curbs imposed to fight the Covid-19 pandemic.

At 10:09 am, the S&P BSE Oil & Gas index was ruling over 2 per cent higher at 10,943, with ONGC (up 7 per cent) being the top gainer, followed by Petronet LNG (up 5 per cent), and Indraprastha Gas (up 2.5 per cent). Castrol India (down 0.8 per cent) was the