Cheaper oil shifts earnings outlook: OMCs, LNG and airlines seen as key gainers as Brent slips below $85 a barrel

Expectations around a potential US-Iran deal and a possible reopening of the Strait of Hormuz have pushed Brent crude below $85 per barrel. In India, retail prices of petrol, diesel and domestic LPG have been raised, widening the marketing margin cushion for fuel retailers. Brokerages see oil marketing companies such as Indian Oil, BPCL and HPCL, along with LNG players such as Petronet LNG, as among the biggest beneficiaries, while upstream producers ONGC and Oil India could face pressure on realizations.