PSU OMCs advance after crude oil slips

State-run three oil marketing companies (PSU OMCs) rose by 2.97% to 3.74% after crude oil prices tumbled on prospects of a Iran-Israel tentative ceasefire.

Hindustan Petroleum Corporation (up 3.74%), Bharat Petroleum Corporation (up 3.05%) and Indian Oil Corporation (up 2.97%) advanced.

In the commodities market, Brent crude for September 2025 settlement was down 2.68% at $68.63 a barrel.

Lower crude oil prices could reduce under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

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