 "As Brent crude price trades below $70 per barrel, analysts are backing aviation and tyre stocks and are cautious about paints and oil marketing companies (OMCs). “Oil prices are down over 20 per cent from their recent peak and bode well for sectors")
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India’s strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country’s three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
Two top officials from state companies said ISPRL is evaluating offers to rent out 224,000 tons (1.62 million barrels) of oil
