<p>Stocks like Indian Oil, BPCL and HPCL were trading higher, while exploration and production giant ONGC was among the best performers in the 30-share Sensex pack.<br /><br />IOC was up 1.8 per cent at Rs 317.4, BPCL rose 1.4 per cent to Rs 688.35 and HPCL gained 1.6 per cent to Rs 385.<br /><br />ONGC was also trading 0.5 per cent higher at Rs 277.10 after paring some of its early morning gains. In comparison, the Sensex was down by nearly 2 per cent.Among other oil and gas stocks, Gail, Oil India and Petronet LNG were also trading with gains.<br /><br />Brokers said that the oil marketing companies were up as falling crude prices could help reduce their under-recoveries from the sale of diesel and other fuel.<br /><br />Crude oil prices extended their fall today on concerns that energy demand could be hit hard if the global economy, especially the US, moves back into a recession.<br /><br />Nymex crude prices fell below USD 80 per barrel in early Asian trade, while Brent North Sea crude prices were also down at near USD 106 per barrel.</p>
<p>Stocks like Indian Oil, BPCL and HPCL were trading higher, while exploration and production giant ONGC was among the best performers in the 30-share Sensex pack.<br /><br />IOC was up 1.8 per cent at Rs 317.4, BPCL rose 1.4 per cent to Rs 688.35 and HPCL gained 1.6 per cent to Rs 385.<br /><br />ONGC was also trading 0.5 per cent higher at Rs 277.10 after paring some of its early morning gains. In comparison, the Sensex was down by nearly 2 per cent.Among other oil and gas stocks, Gail, Oil India and Petronet LNG were also trading with gains.<br /><br />Brokers said that the oil marketing companies were up as falling crude prices could help reduce their under-recoveries from the sale of diesel and other fuel.<br /><br />Crude oil prices extended their fall today on concerns that energy demand could be hit hard if the global economy, especially the US, moves back into a recession.<br /><br />Nymex crude prices fell below USD 80 per barrel in early Asian trade, while Brent North Sea crude prices were also down at near USD 106 per barrel.</p>