ONGC, Oil India hit 52-week highs as Brent crude climbs above $71/bbl
Shares of state-owned oil exploration & production companies, Oil and Natural Gas Corporation (ONGC) and Oil India hit their respective 52-week highs on the BSE in intra-day trade on Thursday on rising crude oil prices.
ONGC was up 4.4 per cent to Rs 122.95, surpassing its previous high of Rs 122.30, touched on March 8, 2021. Meanwhile, Oil India gained 3 per cent at Rs 140.70 (fresh 52-week high) in intra-day trade.
Crude oil prices traded higher with benchmark NYMEX WTI crude oil prices were trading 0.16 per cent at $68.94 per barrel for the day. Crude oil prices are trading above near term resistance of $68 rallying on strong demand outlook.
