HPCL, BPCL, IOC Shares Rise as Oil Prices Decline Amid Eased US-Iran Tensions

Shares of Indian oil marketing companies HPCL, BPCL, and IOC rose up to 4 percent on January 16 following a decline in global crude oil prices. The drop came after US President Donald Trump indicated a possible delay in military action against Iran amid easing protests and reduced supply disruption concerns. Brent crude fell to around $63.72 per barrel. Analysts noted ongoing market volatility despite eased geopolitical risks and expect strong Q3 results for these state-run firms due to healthy refining margins.