Oil Marketing Companies Soar: HPCL, BPCL, IOC Shares Jump as US-Iran Tensions Ease

• Shares of HPCL, BPCL, and IOC surged up to 4% on January 16, driven by a decline in oil prices.
• The rally came as concerns over supply risks eased, with lower expectations of a US strike on Iran.
• HPCL shares rose nearly 4% to Rs 456.50, BPCL gained over 3% to Rs 367.75, and IOC increased by around 2% to Rs 162.15.
• Oil prices fell after US President Donald Trump signaled a potential delay in attacking Iran, reducing immediate military response likelihood.
• Analysts anticipate strong Q3 results for state-run OMCs due to healthy refining margins, despite continued market volatility.

Why It Matters: OMC shares jumped significantly as easing US-Iran tensions led to a decline in global oil prices.