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

Oil marketing company (OMC) stocks traded higher during Friday morning trade after Brent crude prices declined to around $86 per barrel. The fall in crude prices followed comments from US President Donald Trump indicating that a peace agreement with Iran could be signed as soon as this weekend, raising expectations that disruptions to Middle East energy supplies may ease. 

Among the PSU refiners, as of 11:41 AM on June 12, 2026, BPCL share price gained 3.37% to ₹296.10 each, HPCL share price advanced 2.57% to ₹375 each, while IOC share price rose 2.12% to ₹137.88 each. 

Brent and WTI Crude Prices Decline 

Brent crude prices fell nearly 2% at the open after ending the previous session at a 2-month low and were trading around $86.70 per barrel. Meanwhile, US benchmark West Texas Intermediate (WTI) crude traded below $89 per barrel after witnessing a sharp decline. 

WTI crude dropped more than 2.6% in a single session, falling from an intraday high of $93.63 to a low of $86.57 after reports that the US cancelled planned military strikes on Iran. 

Why Crude Prices Declined 

Oil prices came under pressure after President Donald Trump cancelled planned military action against Iran, reversing earlier market expectations of supply disruptions. The decision reduced geopolitical risk premiums that had pushed crude prices higher amid concerns over tensions in the Middle East. 

Reports also suggested that US and Iranian officials were exchanging messages following a political understanding between both sides, increasing hopes of a diplomatic resolution and easing concerns over near-term supply disruptions. 

Read More: Government Asks IOC, BPCL and HPCL to Build LPG Storage Capacity for 30 Days of Demand 

Conclusion 

Oil marketing stocks witnessed gains as softer crude oil prices improved sentiment for downstream refiners. While geopolitical developments in the Middle East continue to influence global energy markets, investors will closely monitor further diplomatic developments and crude price movements for their impact on the sector. 

Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi.   

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.