India's ONGC, Oil India gain on higher crude oil prices

Oil India

05/03/2026 05:04

** Indian upstream oil companies ONGC ONGC.NS, Oil India OILI.NS rise 3% and 2%, respectively

** ONGC, OILI lift Nifty oil and gas .NIFOILGAS up 2.17% on the day

** Oil prices rose on Thursday amid growing concern over the prolonged closure of the Strait of Hormuz

** Higher oil prices lead to higher realization and profitability for upstream oil companies

** YTD, ONGC up 19%, OILI rises ~18%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))