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Oil Co stocks fall on surging global crude oil prices

Shares of Oil Marketing Companies witnessed selling pressure in different extents on Monday as Brent oil traded near its significant level of USD63 per barrel

Consequently, shares of Hindustan Petroleum or HPCL declined 2.94% at Rs.297.55per share, Indian Oil Corp (IOC) declined 1.91% at Rs.156.70 and Bharat Petroleum Corp (BPCL) slid 1.45% at Rs380.90 during first after noon hours of session, at around 2pm, Monday.  

Crude oil prices extended its advantages for the fourth regular trading session on Monday. As per data compiled by Blumberg, BrentCrude oil advanced 0.2pc to USD62.14per barrel and WTI crude gained 0.1pc at USD52.57per barrel.