OMC stocks: Brent slips below $90 to hit over 2-month low amid Iran peace hopes; Will HPCL, BPCL and IOC benefit?

Résumé détaillé

Oil marketing companies may draw investor attention as Brent crude falls to a three-month low amid hopes of easing Middle East tensions. HPCL, BPCL and IOC have gained 10%–13.5% so far in November. Lower crude prices can reduce costs, improve margins and cash flows, though shipping risks remain.

Shares of oil marketing companies (OMCs) are likely to be on investors' radar when the Indian stock market resumes regular trading on Wednesday, November 11, as international crude oil prices have fallen to a three-month low amid diplomatic efforts to end the Middle East conflict.

Brent crude fell towards $90 per barrel on Tuesday, extending losses from the previous session and touching its lowest level since late August. The decline came after US President Donald Trump played down the prospect of additional military action against Iran, easing fears of prolonged supply disruptions in the Middle East. The possibility of a global supply glut also remained in focus.

Traders are assessing whether a potential breakthrough in peace negotiations between the US and Iran could ease supply-chain disruptions that have persisted since the conflict began. The crisis had pushed inflation in developing economies to multi-year highs and prompted central banks to raise interest rates.

The three state-run OMCs — Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil Corporation Ltd (IOC) — have started November on a strong note, gaining between 10% and 13.5% so far, supported by the sharp retreat in crude oil prices.

Trump said on Monday that he planned to hold off on further military strikes against Iran following appeals from countries in the region, including Qatar's prime minister. However, market participants remained cautious about the announcement, given that Trump had made similar statements in the past before military action resumed.

Brent crude has retreated around 23% from the six-month high of $118 per barrel touched on October 30, as concerns that Trump could intensify attacks on Iran following the US midterm elections have eased. However, the possibility of shipping disruptions remains a concern.

Trump acknowledged that the Iran war had affected the midterm election results, suggesting that voters were frustrated by surging…

Democra…

Début de l'article, extrait de Mint. Pour lire la suite, ouvrez l'article chez le média.