BPCL, HPCL and IOCL trade cautiously as Brent crude holds below $80 a barrel on June 22

In early trading on June 22, Brent crude futures steadied below $80 a barrel after international diplomatic progress eased tensions around supply corridors. Shares of India’s three oil marketing companies—BPCL, HPCL and IOCL—moved narrowly higher at 0.23% to 0.83%, while ONGC rose 0.10% and Oil India Limited slipped 0.11%. Investors turned more cautious, watching upcoming domestic consumption data and corporate earnings. The softer crude price offered a mild cost-side tailwind for refiners, but did not spur strong risk-taking.