Mumbai/IBNS, Jan. 5 -- Oil and energy stocks surged on Monday following the United States' military strike on oil-producing Venezuela, media reports said.

Shares of Reliance Industries Ltd (RIL) rose nearly 1% to hit a 52-week high of Rs.1,611.20, while other energy stocks gained up to 2% in early trade.

ONGC shares are expected to remain in focus as the state-run explorer holds equity stakes in two Venezuelan projects through its overseas arm, ONGC Videsh.

Global brokerage firm Jefferies said ONGC could recover long-pending dues with the United States stepping into Venezuela's system, The Economic Times reported.

RIL stocks will also be closely watched as the company has been purchasing Venezuelan crude. However, reports suggest the ...