India's oil marketing stocks rise following US, Iran agreement to end war

Bharat Petroleum

Mon 05:08

** Shares of India's oil marketing companies rise in morning trading
** Oil prices fall after U.S. and Iran agree on a framework to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz 
** Indian Oil Corporation IOC.NS rises 3.7%; Bharat Petroleum Corporation BPCL.NS up 4%; Hindustan Petroleum HPCL.NS jumps 4.1%
** Brent crude futures fell 4.10% to $83.75 a barrel
** Lower oil prices tend to enhance operating margins for oil marketing companies
** YTD, IOC down 11.7%, BPCL down 18%, HPCL down 18.5% vs 8% fall in Nifty Oil and Gas Index .NIFOILGAS 


 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))