Rising oil and gas prices can lead to greater gains in ONGC stock

Demand and pricing environment remains positive; any reversal in energy prices could hurt sentiment

Strong crude oil and gas prices have boosted ONGC’s results for the quarter ended December (Q3) 2021, and these conditions are likely to sustain for 2022-23. The global economy is recovering, which is pushing up energy demand. At the same time, there’s a lot of tension over the Russia-Ukraine situation, which has pushed up energy prices on fears of supply disruption. Russia is a huge energy exporter and the gas pipelines to Western Europe (which sources 80 per cent of its gas from Russia) run though the zone of potential conflict. This tension could lead to a huge spike in