Oil explorers rally as crude boils

Shares of two state-run oil explorers rose by 2.33% to 2.51% amid soaring crude oil prices.

ONGC (up 2.33%) and Oil India (OIL) (up 2.51%) jumped.

In the commodities market, Brent crude for May settlement was up 9.45% at $129.27 a barrel. It has jumped 66% so far in calendar year 2022.

Higher crude oil prices boost oil explorers' average realisation from every barrel of the oil sold.

Shares of ONGC hit a 52-week high of Rs 176.40 on 14 February 2022.

In the past one month, the stock has fallen 1.86% as against 8.44% decline in the Sensex. It has jumped 47% in the past one year compared with 4.66% rise in the Sensex.

 

Shares of OIL hit a 52-week high of Rs 267.70 on 1 October 2021.

In the past one month, the stock has surged 8.10% as against 8.44% rise in the Sensex. It has jumped 96.03% in the past one year compared with 4.66% rise in the Sensex.

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