ET:Oil marketing companies decline on strength in Brent crude
Shares of oil marketing companies fall on worries of higher marketing losses tracking strength in international crude oil prices, said two institutional dealers.
Brent crude slipped on Friday after rising nearly 3 percent in the previous session, but optimism surrounding Europe's rescue initiatives has kept prices firm above $111, while U.S. crude is on track for its biggest weekly gain since February.
At 9:54 a.m., shares of Hindustan Petroleum Corp were at Rs 338.1, down 1.6 percent; Bharat Petroleum Corp were at Rs 644, down 1.97 percent and that of Indian Oil Corp. were at Rs 195.35, down 0.47 percent.
