Crude oil prices fell for a second day on Wednesday on expectations that peace talks between the US and Iran may resume
Iran, according to Nomura's estimates, has been the biggest beneficiary since the war broke out in terms oil revenues that rose 36 per cent y-o-y in March 2026 to $5.7 billion
Crude oil prices topped the $100 per barrel mark after the failure of ceasefire talks between the United States and Iran in Islamabad over the weekend to reach an agreement
ONGC and Oil India shares fell up to 4% as Brent crude dropped below $100 following a US-Iran ceasefire and easing tensions in the Strait of Hormuz.
Nomura believes oil marketing companies (OMCs) are likely to face margin pressure after the government raised prices of aviation turbine fuel (ATF) and commercial liquefied petroleum gas (LPG)
The futures & options market positioning reflects heavy short build-up, creating conditions for sharp but temporary short-covering rallies, says Systematix Institutional Equities.
The Government of India has not announced any windfall tax on domestic crude realisations; this is a key positive for ONGC and Oil India, believe analysts.
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Analysts have revised their forecasts for oil & gas prices for the remaining part of 2026 as developments in West Asia continue to unfold.
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Oil prices rose after Iran attacked several energy facilities across West Asia following a strike on its South Pars gas field, a major escalation in Tehran's war with the US and Israel
Antique upgraded GAIL (India) Ltd. to 'Buy' from 'Hold', citing the sharp correction in the stock price despite a relatively limited impact on its target price
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The prospects for OIL and ONGC may improve - with volume growth, stronger gas realisations and delta from refining/downstream subsidiaries likely aiding consolidated earnings momentum, say analysts.
Oil India Q3 revenue from operations stood at ₹9,111.43 crore, largely flat on a year-on-year (Y-o-Y) and sequential basis
In the past one month, the BSE Oil & Gas index has outperformed the market by gaining 2.2 per cent, as against 2.2 per cent decline in the BSE Sensex.
Aakash Shah, technical analyst at Choice Equity Broking expects ONGC, Oil India and BPCL to gain up to 10 per cent from here based on the strong chart patterns.
At 11:21 AM on Wednesday; the BSE Oil & Gas index was the top gainer among sectoral indices, up 2.4 per cent, as compared to 0.16 per cent decline in the BSE Sensex.
ONGC in an exchange filing said that the rise in the company's share price was attributable to the increase in the world crude oil prices.