Oil India Ltd shares declined by 3% following a sharp drop in global crude oil prices. Brent crude futures slipped nearly 4% to $63.21 per barrel, reaching a four-year low, while West Texas Intermediate (WTI) fell to $59.79 per barrel.
The decline in crude prices follows an 11% weekly fall, largely influenced by Saudi Aramco’s decision to lower prices for its key Asian customers. The state-owned oil major cut Arab Light crude prices by $2.30 per barrel for May deliveries.
Oil India shares opened at ₹349.00 today, touching a high of ₹349.00 and a low of ₹336.40. The stock remains volatile, nearing its 52-week low of ₹325.00, significantly below the 52-week high of ₹767.90.
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