Crude trumps $90: ONGC may see 15% upside; OMCs indicate a mixed trend

The two major OMCs were exhibiting a mixed trend on the charts, with HPCL reflecting positivity, while BPCL struggling to hold ground.

Shares of crude oil related companies are likely to be in focus given the fact that oil prices were trading at seven-year highs. The global benchmark brent crude futures topped the $90-mark a barrel in intraday deals on Wednesday for the first time in more than seven years, amid the growing geopolitical tensions between Russia and Ukraine.

Brent Crude has risen shaprly by almost 30 per cent in the last 28 sessions. Oil prices are vulnerable to disruption in the economy and continue to attract robust interest in times of uncertainties. Economic turmoil too has an adverse impact on