Surge in crude prices raises concern
Alarm bells have started ringing for India's oil marketing companies once again. Crude oil prices settled at a record high of $70 per barrel for the first time since Hurricane Katrina. And this will only mean more losses for India's bleeding oil companies. "Barring ONGC, other companies will take a severe hit as we go forward, especially if the policy remains unchanged," said S Natraj, Head of Research, Equitymaster.com
