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Crude Oil - Higher crude oil prices a net positive for upstream cos, possibly for OMCs too: Kotak Equities
Kotak Institutional Equities reports that rising crude oil prices benefit upstream companies like ONGC and Oil India, increasing their EPS. Surprisingly, OMCs (BPCL, HPCL, IOCL) may also gain if the government maintains current pump prices,
FTSE 100 Live 23 June: Blue-chip index in the red, oil price steadies
Brent Crude futures rose today amid fears of Iranian retaliation in the wake of America's bombing of three of its nuclear facilities. The oil price stood at its highest level since January at $78.31, an increase of about 1.4% in this morning’s dealings.