Commodities
Crude-Sensitive Stocks Surge as Brent Falls Below $91
Shares of companies sensitive to crude oil prices rose significantly after Brent crude fell sharply amid easing tensions in West Asia. The global oil benchmark declined by about 5% to USD 91 per barrel.
The sharp drop in crude prices is expected to reduce input costs and support margins for downstream oil marketing companies, which refine crude oil and sell petroleum products.
Among these companies, Bharat Petroleum Corporation Ltd (BPCL) gained more than 2%, Hindustan Petroleum Corporation Ltd (HPCL) rose nearly 3%, and Indian Oil Corporation Ltd advanced around 2%.