Even as market plummets, these 3 oil stocks soar!
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Indian Oil, BPCL surged 3.3 percent to 930 rupees.
Crude Oil prices slumped to their mid-April lows on a variety of reasons. The Dollar strengthened versus other peers following the Greek vote. A strong dollar pushes commodity prices lower. Rising global supply is feared as the Iranians are close to their nuclear deal with the US. Also, more importantly, US count on drilling rigs has risen for the first time in many months, pointing to increasing supply in the near term.
(Image credits: indiatimes)
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