Shares of three public sector oil companies rose by 1.21% to 1.68% at 10:19 IST on BSE after crude oil prices edged lower in Asian trading today, 13 July 2015.
Meanwhile, the S&P BSE Sensex was up 16.76 points or 0.06% at 27,678.16.
Among public sector oil marketing companies (PSU OMCs), Indian Oil Corporation (up 1.68%), BPCL (up 1.50%) and HPCL (up 1.21%), edged higher.
Brent crude oil futures edged lower. Brent for August settlement was down $1.08 a barrel at $57.65 a barrel. The contract had gained 12 cents or 0.2% to settle at $58.73 a barrel during the previous trading session. Brent for September settlement was down $1.05 a barrel at $57.95 a barrel.
Lower crude oil prices could reduce under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
Powered by Capital Market - Live News
