HPCL, BPCL to IOCL: OMC stocks rally up to 5% as crude prices slip below $70; Emkay says OMCs in ‘sweet spot’

Shares of Indian oil marketing companies surged as Brent crude prices fell below $70 per barrel, their lowest in three years. BPCL, HPCL, and IOC reported gains up to 5%, with Emkay Global noting that lower crude prices are favorable for these companies.