OMCs fall 2-4% as global oil prices rise; ONGC hits new 52-week low ahead of Q3 numbers


OMCs fall 2-4% as global oil prices rise; ONGC hits new 52-week low ahead of Q3 numbers

Indian benchmark indices fell on Thursday afternoon, with the Nifty 50 down 40 points and was trading at 10753 mark while the Sensex shed 103 points, trading at 35930 mark. The fall was largely aided by energy stocks after crude oil prices climbed to their highest in nearly three months.

US West Texas Intermediate (WTI) crude futures were at $54.16 per barrel at 0413 GMT, up 26 cents, or 0.5 percent, from their last settlement. International Brent crude oil futures were up 37 cents, or 0.6 percent, at $63.98 a barrel.

China’s crude oil imports in January rose 4.8 percent from a year earlier, customs data showed on Thursday, to an average of 10.03 million barrels per day (bpd), the third straight month that imports have exceeded the 10 million bpd mark. Read More

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