Next Article
Business
•
Jun 24, 2025
Understanding today's rise in oil sector stocks
Oil sector stocks got a boost after US President Donald Trump announced a ceasefire between Iran and Israel, calming earlier tensions that had sent oil prices soaring.
Brent crude dropped sharply, falling below $70 per barrel after peaking at $81.40.
TL;DR
Lower oil prices are good news for India's inflation
Iran's move to keep the Strait of Hormuz open helped ease prices further, pushing up shares of companies like Hindustan Petroleum (+4.16%) and Bharat Petroleum (+3.27%).
Lower oil prices are good news for India's inflation worries, since we import most of our oil.
The Reserve Bank of India also cut its key lending rate by 0.5% and now expects inflation to be lower next year—potentially making things a bit easier for everyone's wallet.