IOC, BPCL, HPCL Share Prices Jump Up to 3.4% as Crude Oil Prices Falls on Strait of Hormuz Reopening Hopes

Shares of Indian Oil Marketing Companies (OMCs) surged by up to 3.4% on Monday June 15, 2026, as crude oil prices fell sharply.  

This decline followed the news regarding the US and Iran finalising an agreement to end their conflict, leading to a drop in Brent crude prices by 5.05% to $82.92 per barrel at 3:44 PM. 

Why Are IOC, BPCL and HPCL Share Prices Rising Today?  

Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) share prices are rising today primarily due to a sharp crash in global crude oil prices sparked by a monumental US-Iran peace agreement. 

Because crude oil accounts for the vast majority of input costs for these state-run Oil Marketing Companies (OMCs), the collapse in crude prices directly dramatically inflates their core profit margins. 

Among the OMCs, Hindustan Petroleum Corporation Limited (HPCL) was the top performer of the day. 

As of June 15, 2026, at 3:01 PM on NSE Hindustan Petroleum share price was trading at ₹402.20, up by 3.42% and Indian Oil Corporation share price at ₹144.68 up by 2.65% from the previous closing price. 

Bharat Petroleum Corporation share price on NSE was trading at ₹310.25 up by 2.61% from the previous closing price. 

How Does the Strait of Hormuz Impact India's Oil Imports?  

As per the news reports, the reopening of the Strait of Hormuz, a critical waterway for global oil transport, would ease concerns over oil supplies for India. 

The Strait of Hormuz, situated between Iran and Oman, is a vital route for oil exports from major Gulf producers such as Saudi Arabia, Iraq, Kuwait, the United Arab Emirates, and Qatar.  

These countries are key energy suppliers to India, which imports more than 85% of its crude oil requirements.  

India's reliance on imports extends to its natural gas needs, with 65% sourced from countries like Qatar and the UAE.   

Reopening the Strait of Hormuz would provide significant relief by easing concerns over oil supplies, lowering freight costs and reducing pressure on inflation. 

Economic Implications of Rising Crude Oil Prices 

Global oil prices had previously surged to $119 per barrel at the height of the conflict, from $70-72 per barrel in February 2026.  

This increase in oil prices had raised the cost of producing petrol and diesel in India. Despite the government reducing excise duty on petrol and diesel by ₹10 per litre on March 27, 2026, retail prices were subsequently raised by about ₹7.50 per litre each. 

State-owned oil companies have been incurring losses of approximately ₹600 crore per day due to retail rates lagging behind costs, according to a PTI report. 

Read More: BPCL, HPCL and IOC Share Price Gain as Brent Crude Falls to Around $86 Amid Hopes of a US-Iran Peace Deal 

Conclusion 

The decline in crude oil prices, following the news of US-Iran agreement, led to a rise in OMC shares. 

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