Brent slips below $80 a barrel as analysts warn Q1 FY27 could hit India OMC profitability

Brent crude fell below $80 per barrel, its lowest level since March 2026, after the signing of a US-Iran ceasefire reduced the region’s risk premium. Analysts said prices could soften further if conditions normalize at the Strait of Hormuz, though restocking and Strategic Petroleum Reserve replenishment could lift demand later. The report said the decline may still not prevent a sharp hit to Indian oil marketing companies’ Q1 FY27 profitability, as earlier high input costs, weaker marketing margins and the risk of a phased rollback of the excise cut continue to weigh, according to PL Capital.