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Last Updated : 06 November 2009 at 13:55 IST

Oil India rises as crude prices firm up

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MUMBAI (Commodity Online): Crude oil prices rose in the international market on the optimism of increased fuel demand amid improved prospects for an economic recovery in the US.

Crude traded at USD 80.12 per barrel today on NYMEX, while in the Indian market the November contract of MCX Crude oil stood at Rs.3745 per barrel. However there was some weakness in the prices on MCX today.

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The Indian oil exploration companies, Oil & Natural Gas Corporation Ltd (BOM: 500312), Oil India Ltd (BOM: 533106) and Cairn India Ltd (BOM: 532792) traded marginally up from the previous close.

ONGC traded at Rs.1157 up by 0.3%, while Cairn India Ltd traded at Rs.272.5 up 0.7% in the morning trading session today. Oil India Ltd surged over 1% at Rs.1160 on the BSE today.