ONGC, Oil India Shares Surge on Elevated Crude Prices, Extend Winning Streak

• ONGC and Oil India shares gained up to 2% and 4% respectively on Wednesday, January 14, marking their fourth consecutive day of gains.
• The rally is attributed to global crude oil prices reaching a 12-week high, with Brent Crude near $66 per barrel.
• Concerns over protests in Iran and potential US intervention are contributing to the elevated oil prices.
• A $1 per barrel increase in crude oil prices could boost ONGC and Oil India's revenues by ₹300-₹400 crore.
• Both stocks saw strong trading volumes, significantly higher than their 20-day averages, indicating strong investor interest.

Why It Matters: ONGC and Oil India shares are rising due to high global crude prices, boosting potential revenues.