Oil explorers` stocks surge amid US-Iran tensions
The shares of oil exploration companies surged amid spike in global crude oil prices following geopolitical tensions between Iran and United states (US). Market participants worry that a military conflict between these countries could impact the oil supply through the Strait of Hormuz which accounted for roughly 31% of global seaborne crude transport.
Oil & Natural Gas Corporation is currently trading at Rs 278.25, up by 3.75 points or 1.37% from its previous closing of Rs 274.50 on the BSE. The scrip opened at Rs 277.80 and has touched a high and low of Rs 280.80 and Rs 276.75 respectively. So far 958311 shares were traded on the counter.
Oil India is currently trading at Rs 477.30, up by 0.60 points or 0.13% from its previous closing of Rs 476.70 on the BSE. The scrip opened at Rs 480.15 and has touched a high and low of Rs 486.00 and Rs 471.70 respectively. So far 566975 shares were traded on the counter.
