Oil marketing stocks traded higher in Friday morning trade, after brent crude prices slipped to $86 per barrel. This is after US President Donald Trump said a peace agreement with Iran could be signed as soon as this weekend, raising hopes that disruptions to Middle Eastern energy supplies may eventually ease.
Bharat Petroleum Corporation (BPCL) emerged as the top performer among the state-run refiners, rising 3.84% to Rs 297.35, Hindustan Petroleum Corporation (HPCL) gained 3.66% to Rs 379.10, while Indian Oil Corporation (IOC) advanced 2.56% to Rs 137.67.
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Brent crude fell nearly 2% at the open to $88.79 a barrel after ending the previous session at a two-month low, and is now trading at $86.70. US benchmark West Texas Intermediate traded near $89 a barrel.
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