Crude Oil Edge Higher, Oil Co Stocks Lead

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Shares of Oil Companies were trading higher today, in line with the international benchmark for crude oil prices rising upwards in today’s trading session.

Crude Oil edged higher as international stocks edged higher and bargain buying lifted the commodity strong over its fourteen-month low.Avail commodity trading tips from our experts.

The WTI Crude oil futures are today quoted at USD48 per barrel, up 2.78-pc on the day, while Crude oil futures on the Multi Commodity Exchange (MCX) ended up 4.80-pc at Rs3419/BL.

Meantime, the NSE Nifty Energy index rose 2.40-pc or 322-pts at 13,741.50-level led by  Hindustan Petroleum Corp (HPCL)-up by 6-pc, Indian Oil Corpn (IOC), up by 3.22-pc, Bharat Petroleum Corp (BPCL)-up by 2.64-pc. Also, ONGC, GAIL India, NTPC and PowerGrid rose up to 2-percent.

During the afternoon session at around 2.40-pm, the domestic benchmarks BSE Sensex zoomed at 38,665.95, up by 521-points while the NSE Nifty scaled at 11295-level, up by 162-points in trade.

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