OMC Stock Views after Crude Oil prices rose on Saudi oil field attack

Price in Crude rose on Monday after a weekend attack on a Saudi oil unit by Yemeni separatists.

Reportedly, Brent crude was up about 1.1%, at USD59.28 per bbl while, US crude was up 1% at USD55.42 per bbl.

According to media reports, Yemeni separatists attacked Saudi oil center on Saturday, raising the crude oil price in trading on Monday, August 19. But as the OPEC report, international oil demand concerns continue to haunt crude oil. 

However, in the Indian stock market, despite rise in Crude oil, Nifty Energy index rose 0.77% at 11132-level, at 1.38pm. The gains were led by Tata Power (+2.48%), NTPC (+1.57%) and Reliance (+1.24%) as the top gainers on the Energy index. On the other hand, shares of Reliance infra falls 5.72% in the Energy index at this time. The other losers followed are HPCL, BPCL, Gail and ONGC.

Meantime, Nifty stood at 11,092.35 up by 44 points, while Sensex scaled at 37583.61 up by 233 pts.

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