Analysts said the oil marketing company stocks were moving up amid optimism that sharply lower crude oil prices will help these state-run firms cut their losses on the sale of fuel. Shares of Indian Oil went up by 1.57 per cent to touch an early high
Investors left the equity markets in droves last week, shedding both stocks and commodities, and driving crude oil prices sharply lower. The crude oil market.
"Any announcement that the Fed is instituting QE3 or a similar program would be bullish for oil prices," Peter Beutel, president of Cameron Hanover, said in a note to subscribers. "The lack of anything new would lead to more selling," Beutel said.
There are still concerns over the markets' reaction to the news that came over the weekend of Standard and Poor's downgrading the US credit rating; current
The remarks were made in response to claims by the public that China's current domestic prices fail to reflect falling international crude oil prices. But the National Development and Reform Commission also assured the public that it would cut pump
No comments:
Post a Comment