IOC, BPCL to HPCL: Oil PSU stocks gain up to 2.5% as crude oil rally loses steam ahead of US-Iran talks this weekend
Shares of oil marketing companies (OMC) rose up to 2.5% in the early morning session on Friday, April 10, as crude oil prices trimmed gains ahead of the US-Iran ceasefire talks scheduled to take place in Pakistan this weekend.
A possible breakthrough in the Middle East war and hopes of reopening the Strait of Hormuz, which accounts for nearly 20% of global oil passage, have pulled crude oil prices below their recent highs hit at the height of the crisis.
