Shares of Bharat Petroleum Corporation rose 3.46% to ₹324.30 in early trade on Monday, riding on the back of a steep fall in global crude oil prices after US President Donald Trump brokered a “complete and total” ceasefire between Israel and Iran. The stock opened higher from its previous close of ₹313.45 and touched an intraday high of ₹327.80, with a market cap now standing at ₹70,096 crore.
Crude prices saw their sharpest single-day drop since March 2022, with Brent crude slipping below $70 per barrel. Brent futures fell by over 3.7% to $68.79, while WTI plunged nearly 4% to around $65.46 per barrel. The decline comes amid expectations of easing geopolitical tensions and improved supply from OPEC member Iran.
The ceasefire agreement, if sustained, could allow Iran to resume higher crude exports, stabilizing global oil supply and further reducing prices. This has turned investor sentiment positive for oil-marketing companies (OMCs) like BPCL, IOC, and HPCL, which benefit from lower crude input costs.
However, upstream oil producers like ONGC and Oil India may feel the pressure from declining price realizations.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
