Oil marketing companies like HPCL, BPCL, and Indian Oil are in focus as Brent dips 6.9% to $102.4 per barrel.
HPCL is trading 6.67% higher, BPCL is trading nearly 5% higher, and Indian Oil has risen over 4%.
Crude oil prices saw sharp correction on Wednesday as hopes of a possible truce between Iran and the United States were reignited after an Axios report claimed that a peace deal could be inked soon.
The US expects Iranian responses on several key points in the next 48 hours. Nothing has been agreed yet, but the sources said this was the closest the parties had been to an agreement since the war began, as per Axios.
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This is a developing story.
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