Shares of oil marketing companies (OMCs) in India experienced significant gains, with Hindustan Petroleum Corporation Ltd (HPCL) rising 9%, Bharat Petroleum Corporation Ltd (BPCL) increasing 8.8%, and Indian Oil Corporation Ltd (IOC) up 8.2%. This surge follows a 13.6% drop in Brent crude prices, which fell by $14.84 to $94.43 per barrel, prompted by a ceasefire between the US and Iran. The decline in crude prices reduces raw material costs for refiners, enhancing gross refining margins (GRMs) and alleviating inflation concerns. Analysts suggest that if crude prices remain low, OMCs could see substantial margin expansion and improved earnings visibility. However, the ceasefire's temporary nature raises questions about long-term stability in oil markets. Upstream companies like Oil and Natural Gas Corporation (ONGC) faced a 4% decline in stock value due to the ceasefire, highlighting the contrasting impacts on different sectors within the oil industry. Harshal Dasani, Business Head at INVasset PMS, noted that stabilizing shipping lanes could alleviate imported inflation pressures, benefiting sectors sensitive to oil prices, including aviation and logistics.