Energy Stocks Surge: ONGC Share Price And Oil India Jump 10% Amid Rising Oil Prices
January 28th brought an exciting experience to energy investment professionals. Oil prices surged worldwide, which resulted in ONGC and Oil India shares increasing by 10 percent. The market observers celebrated the two state-owned companies because they achieved first place on the Nifty Oil & Gas index, which demonstrated that oil still possesses strong marketability. The index reached 11,735.55 after gaining more than 3 percent at 11:00 AM, which created a positive trading atmosphere for investors. Investors monitored their screens continuously because geopolitical conflicts and winter storms disrupted energy markets while major stocks showed any price movement.
ONGC Share Price & Corporate Moves: Oil Market Gains and VLEC Ventures
| Category | Details |
|---|---|
| Oil Price Movement | Brent Crude: +33 cents to $67.90 per barrel WTI Crude: +42 cents to $62.81 per barrel |
| ONGC Share Price | Jumped over 7% to ₹266.20 (fresh 52-week high) |
| Key Corporate Development | Entered shipbuilding contracts with Samsung Heavy Industries (South Korea) for 2 VLECs |
| Joint Ventures | Two JVs formed with MOL Japan in GIFT City, Gujarat |
| VLEC Ownership & Operation | Each JV owns and operates one VLEC |
| Purpose of VLECs | Transport 600 KTPA of ethane for ONGC subsidiary OPaL |
| Vessel Capacity & Flag | Each VLEC: 1 lakh cubic meters, Indian-flagged |
| Recent Share Performance | Up nearly 9% in 5 days Up over 12% in 1 month |
Oil India Share Price Update
Oil India shares surged nearly 10% to a fresh 52-week high of ₹492.
Recent Performance:
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Up over 11% in five days
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Gained more than 18% in one month
Why Is The Oil Prices Surging? Storms, Supply Crunch, and Middle East Tensions
Oil markets are experiencing active trading because prices are rising due to dual market forces, which include supply interruptions and geopolitical conflicts. A severe winter storm caused U.S. crude producers to lose almost 2 million barrels per day, which represented 15 percent of the national production capacity. Vortexa, a ship-tracking company, reported that Gulf Coast exports of crude and LNG reached zero, while Kazakhstan production losses created additional constraints on global oil supplies.
Analysts warn that once the storm passes, selling pressure may return, likely keeping WTI crude near $60 per barrel. The market maintains its anxious state because rising tensions between the U.S. and Iran create fears about potential military conflict. Traders at an aircraft carrier base in the Middle East are closely monitoring all developments because they want to understand how these changes will affect trading operations.
The unpredictable combination of weather patterns, political situations, and supply chain limitations creates a situation that requires complete market observation from both consumers and investors.
(With Inputs)
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Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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