4 Energy Stocks which Have Risen 12-30% Since April 30 on Rising Crude Oil

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4 Energy Stocks which Have Risen 12-30% Since April 30 on Rising Crude Oil
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Share prices of energy stocks have been rising in tandem with crude oil prices. Crude oil closed April 30 at $63.58. They are currently trading at $73.08, an increase of over 14% since then.

Bank of America’s (BofA), in its global research report said it expects oil prices could hit $100 a barrel in 2022 as demand increases and supply tightens. “We believe that the robust global oil demand recovery will outpace supply growth over the next 18 months, further draining inventories and setting the stage for higher oil prices,” the bank said in a note dated Sunday. The Bank said that the oil market will likely be in a deficit for the next six months, and will be short 0.9 million barrels per day.

Stock prices of major energy stocks like Oil And Natural Gas Corporation Ltd (NS: ONGC ), Hindustan Petroleum Corporation Ltd (NS: HPCL ), Bharat Petroleum Corp. Ltd. (NS: BPCL ) and Oil India Ltd (NS: OILI ) have moved in tandem with crude oil. Here are the movement in their prices:

ONGC closed June 22 at Rs 122, up 13% since its closing price of Rs 108.15 on April 30. HPCL is up 30% at Rs 304.95 from Rs 234.65 on April 30. BPCL is up 12%, from Rs 421.8 to Rs 473.1. OIL is up 24 from Rs 122.1 to Rs 151.

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