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Indian Oil Stocks Rally as Venezuela Crisis Boosts Crude Price Sentiment
Indian energy stocks climbed as geopolitical tensions and crude supply concerns linked to the Venezuela crisis lifted oil price sentiment across markets.
Shares of major Indian oil and energy companies, including Reliance Industries Ltd (RIL) and ONGC, rose as geopolitical tensions in Venezuela pushed crude oil prices higher. RIL hit a 52 week high, while ONGC and other energy names reported modest gains amid rising demand expectations and tighter supply outlook. Traders said that uncertainty around Venezuelan oil exports and broader risk premium in crude markets were key drivers pushing energy stock valuations up