Commodities
Iran-US Conflict Boosts Oil Prices, ONGC and Oil India Shares
Oil prices surged over 3% after US forces struck Iranian rocket launchers near the Strait of Hormuz, reigniting supply concerns from the region.
Oil and Natural Gas Corporation (ONGC) and Oil India shares rose 2% each on the BSE in Tuesday's intra-day deals despite a weak market.
The WTI Crude Oil prices spike came after US forces struck Iranian targets, with Tehran retaliating with missile attacks on US bases in Jordan.
Analysts view ONGC and Oil India as potential long-term investment bets, citing the companies' plans to increase exploration efforts and their integrated upstream and downstream businesses.