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Oil Companies Share Rise: Bombing of Israel on Iran’s nuclear installations and subsequent counter action has increased the mercury of West Asia. Due to this, the price of crude oil has crossed around $ 75. In such a situation, there may be obstacles on the export of oil from those countries including Iran, Saudi Arabia and Qatar. Iran has threatened to close the important business oil route caused by the way of the hormul’s Gulf. If this happens, a big crisis can arise in front of the world.
However, since Israel attacked Iran, the oil prices have been running up and the shares of those companies have been running since then. Some companies may benefit from rising oil prices. These include companies like Oil India and ONGC.
Oil companies shares boom
If the report of JM Financial, then crude oil increases by one dollar per barrel per barrel of Oil India and ONGC also increases one and a half to two percent. This means that the more the prices of crew oil bounce, the more the earnings of these oil companies will increase. But this is not the case. Actually, the government had earlier imposed windfall tax on crude oil. It was installed from July 2022 to November 2024.
After this, the price of crude up to $ 75 per barrel was fixed. But the government removed it in the last month of 2024. After this, now Oil India and ONGC’s opportunity to keep their full earnings.
silver
With the increase in the price of crude oil, companies that will get the biggest chance to earn or say that those whose shares can run up are- BPCL, IOCL, HPCL. However, JM Financial has given ONGC’s rating bye. Whereas HPCR, IOCL has rating ‘SAIL’ and rating on BPCL ‘hold’.
The brokerage firm says that if the oil prices rise, the government will increase the input cost of these companies. But, if reduced, the government will either increase excise duty or reduce prices. & Nbsp;
disclaimer: (Here information provided is being given only for information. It is necessary to tell here that the investment market is subject to risks. Always consult an expert before investing money as an investor. Never is advised by Abplive.com to invest money here.)"text-align: justify;"> Also read: Despite reconciliation with US, the economy of China got the worst condition of this sector in 6 months
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