ONGC, Oil India gain; BPCL, IOC, HPCL dip as oil hits six-week high

Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration, Deep Industries and Selan Exploration Technology Company have rallied up to 16% on the BSE in intra-day trade.

Shares of oil exploration and production companies such as Oil and Natural Gas Corporation (ONGC), Oil India, Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration Deep Industries and Selan Exploration Technology Company have rallied by up to 16% on the BSE in intra-day trade after oil hit a six-week high on Wednesday.

Brent crude futures were up $1.73, or 2.6%, at $69.15 per barrel by 12:50 a.m. EDT (1650 GMT). Brent has risen by nearly 12% since hitting a two-month low of $61.77 in early February, the Reuters report suggested.

Data released by the U.S. Energy Information