Oil Stocks Outlook
Seen volatile next week amid Israel-Iran conflict
This story was originally published at 19:19 IST on 13 June 2025
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NEW DELHI – Shares of oil companies are expected to be volatile owing to concerns about an escalation in tensions between Israel and Iran. Stock movements next week will depend on whether there is an escalation in the conflict.
"Next week, charts won't matter. Headlines will," Vikram Kasat, head of advisory at Prabhudas Lilladher Capital, said in a note. "Because when oil flies, gold soars, and planes skid — markets don't stay rational."
The August Brent crude oil contract surged over 13% in the morning to a four-month high of $78.50 per barrel after Israel targeted nuclear facilities in Iran. The price came off highs was at $74.06 per barrel at 1725 IST, up nearly 7%.
"With Israel launching a pre-emptive strike and Iran vowing retaliation, including potential attacks on US bases—the threat to the Strait of Hormuz, a key global oil artery, looms large," Rahul Kalantri, vice-president commodities at Mehta Equities, said in a note.
On the earnings front, Emkay Global Financial Services expects oil marketing companies to post strong earnings growth in the June quarter owing to higher petrol and diesel margins. Despite shifting sentiments, the year so far has been solid for OMCs, with diesel-petrol marketing margin at INR 9-13 per litre, LPG under-recoveries down to INR 176 per cylinder from INR 247 in Jan-Mar, and gasoline cracks moving up by over $2 per barrel on quarter, the brokerage said.
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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % | Resistance | Support |
| Bharat Petroleum Corp | 312.30 | (-)1.40 | 323.80 | 293.60 |
| Hindustan Petroleum Corp | 386.25 | (-)5.10 | 399.90 | 363.40 |
| Indian Oil Corp | 140.34 | (-)0.30 | 146.40 | 134.00 |
| Oil & Natural Gas Corp | 251.51 | 4.80 | 259.00 | 245.40 |
| Oil India | 477.75 | 12.60 | 491.80 | 466.30 |
| Reliance Industries | 1427.90 | (-)1.10 | 1447.10 | 1404.70 |
| Nifty Oil & Gas | 11443.60 | (-)0.00 | 11600.80 | 11239.50 |
| Nifty 50 | 24718.60 | (-)1.10 | 24930.00 | 24367.30 |
| S&P BSE Sensex | 81118.60 | (-)1.30 | 81788.00 | 80019.90 |
End
Reported by Anshul Choudhary
Edited by Saji George Titus
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