Indian Oil Stocks Rise Amid Crude Price Surge and US-Iran Tensions

Shares of Indian oil companies, including ONGC, Oil India, BPCL, HPCL, and Indian Oil Corporation, rose following a spike in crude oil prices amid US-Iran tensions after the US shot down an Iranian drone near its aircraft carrier. Brent and WTI crude prices have increased about 13% in 2026. Analysts remain optimistic on upstream firms like ONGC and Oil India, expecting further gains. Meanwhile, geopolitical risks and a potential US-India trade deal affecting tariffs on Indian exports add complexity to the oil market outlook.