The S&P BSE Oil & Gas index surged nearly 3 per cent to 11,928.27 levels in the intra-day deals on Tuesday amid rise in crude oil prices on expectations that fuel demand will begin to recover as some US states and nations in Europe and Asia start to ease coronavirus lockdown measures.
The US benchmark West Texas Intermediate (WTI) crude futures rose as much as 8.2 per cent to a three-week high of $22.06 per barrel during the day. It is on a five-day win streak that started on April 29. Brent crude futures hit a high of $28.57 a barrel and were up for a sixth straight day, Reuters reported.
