Mumbai/IBNS, Jan. 14 -- Shares of Oil & Natural Gas Corporation Ltd. (ONGC) and Oil India Ltd. surged on Wednesday amid a sustained rise in global crude oil prices, media reports said.

The rally extended gains from previous sessions, during which ONGC and Oil India climbed 5.2% and 9.3% respectively.

Global oil prices have remained elevated amid ongoing protests in Iran and speculation over possible intervention by US President Donald Trump. Brent crude trading close to $66 per barrel reflects the recent surge in prices.

Oil prices had come under pressure last month due to growing expectations of a possible easing of the Russia-Ukraine conflict, but geopolitical tensions have once again pushed prices higher.

More than an hour into the...