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Crude Oil prices rose, OMC Stocks fall

On Wednesday, Oil prices reportedly rose over 1-percent to reach a peak level in about one month, since crude stockpiles declined more than expected, amidst concerns over a potential US Iran divergence.

Brent crude futures were up 1.3pc at USD65.91 which previously touched their highest since May-end. US WTI crude futures were at USD58.98/ barrel, up 1.8pc from their last settlement.

With this reaction, shares of Oil Companies or OMCs declined to some extents. Accordingly, stock of Bharat Petroleum (BPCL) trade lower by 1.54% at Rs.387.05 per share, Hindustan Petroleum (HPCL) down 2.28% to Rs288.75 and Indian Oil Corp (IOC) declined 0.32% at Rs154.10 on the NSE as of mid-morning at 11.15am.

In comparison, at the same time the BSE Sensex trade higher at 39514.45 up by 79.51points and the NSE Nifty50 higher at 11819.90 up by 23.45 points.