Crude oil in the Brent market touched $34/bbl, having gained more than 100% from the lows of April 20, when WTI had slipped into negative zone. This gave a big boost to oil extraction companies. The Oil & Gas index gained 2% with key gains coming from ONGC (up 7%), Petronet (up 5%) and IGL (up 2%). ONGC has dipped sharply from Rs.178/- after the oil prices started crashing due to the global slowdown. Even the WTI crude which had dipped into negative on April 20, has now scaled above the $30/bbl mark. May 19 is a crucial date as the June contract for WTI deliverable contracts expires on Tuesday. However, brokers, exchanges and clearing houses have taken adequate precautions to avoid a repeat of what happened in April.