MRPL, Chennai Petro soar up to 8% as crude oil prices rebound

MRPL, Chennai Petroleum and Hindustan Oil Exploration soared around 8 per cent each. Oil explorers - Oil India and ONGC also logged smart gains in an otherwise weak market.

Shares of oil refiners logged strong gains, rallying around 8 per cent, in an otherwise weak market on the back of a rebound in crude oil prices. Meanwhile, the S&P BSE Sensex was down 0.6 per cent at 52,840.

Crude Oil prices headed north, after French President Emmanuel Macron said on Monday the president of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan (MbZ), had told him two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production. READ MORE

As of 10:15 AM IST, In the commodities market, Brent crude quoted at