May 31, 2019 / 4:28 AM / 2 months ago

BUZZ-Indian oil marketers rejoice plunging oil prices

** Indian oil marketing companies rise between 2.8% and 3.8% after oil prices declined overnight

** Oil prices were on track for their biggest monthly fall since November after U.S. President Donald Trump said he would impose tariffs on imports from Mexico, stoking fears about global economic growth

** Crude prices have also been under pressure from a smaller-than expected decline in U.S. stockpiles

** Hindustan Petroleum Corp (HPCL) shares hit their highest since May 2018

** Bharat Petroleum Corp (BPCL) shares touch their highest level since June 2018, while Indian Oil Corp (IOC) hit highest since March 26

** So far this year, IOC stock up 18.2%, HPCL up 25.4%, BPCL up 12.4%

** S&P BSE Oil & Gas index hit over 15-month high, rising as much as 1.3%

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