RIL, ONGC: Keep stocks of these oil explorers on radar as crude prices soar

Charts suggest that shares of oil exploration companies can rally over 16 per cent from present levels.

Shares of oil exploration companies rallied up to 6 per cent in Monday's intra-day trade after Brent Crude once again topped the $91 per barrel level amid fears that the Israel-Palestine war may escalate to neighbouring countries.

Brent Crude Oil futures had hit a high of $97.69 in late September post which saw a sharp fall of over 14 per cent to a low of $83.44 in just seven trading  sessions owing to concerns that global economic slowdown could impact demand.  However, the crude oil bulls swung back into action after the Israel war broke out on October 07. 

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