ONGC, Oil India fall as oil prices drop below $100 a barrel

Oil India

08/04/2026 05:39

** Explorers Oil and Natural Gas Corp ONGC.NS, Oil India OILI.NS fall as much as 4.1% and 4.3%, respectively

** ONGC biggest loser on Nifty 50 index .NSEI, which is up 3.45%

** Oil prices slide below $100/barrel as a two-week Iran ceasefire sparks relief rally, fuelled by hopes that oil and gas flows through Strait of Hormuz could resume

** Easing oil prices negatively impact realisations, margins for upstream oil companies

** YTD, ONGC up ~17%, OILI up 8%

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))