Crude slides to three-month low: Here's how oil-linked stocks reacted

Crude-sensitive stocks were in focus on June 12 after oil prices fell to their lowest level in three months, following US President Donald Trump's remarks that a deal with Iran could be within reach and that further military strikes had been called off.

Investor sentiment improved after Trump said the Strait of Hormuz could reopen once an agreement is signed, easing concerns over potential disruptions to global oil supplies. The prospect of smoother crude flows pushed Brent crude lower by around 2% to nearly $88 per barrel, its lowest level since early March.

The decline in oil prices triggered a rally in oil marketing companies (OMCs), which are among the biggest beneficiaries of lower crude costs. Shares of BPCL rose over 4.5%, while HPCLgained more than 5% and IOC advanced over 4% during Friday's session.

Lower crude prices improve marketing margins for fuel retailers. Market estimates suggest that every $1 decline in crude oil prices can boost sectoral EBITDA by around ₹200-300 crore, making OMCs among the most direct beneficiaries of the move.

The ripple effect was also visible across aviation and paint stocks. Aviation fuel remains one of the largest operating costs for airlines, while crude-linked derivatives account for as much as 50% of raw material costs for paint manufacturers. Shares of

IndiGo gained around 4.5%, whileAsian Paints, Pidilite Industries and Berger Paints also traded higher.

Commercial vehicle-related stocks and financiers are another segment being closely watched. Lower diesel prices improve fleet operators' profitability by reducing fuel costs, which typically account for 35-50% of operating expenses for truckers. Better freight economics and higher fleet utilisation can eventually translate into stronger demand for medium and heavy commercial vehicles as well as light commercial vehicles over the next one to two quarters.

That could support companies such as Ashok Leyland

, Force Motors and the commercial vehicle business of Tata Motors. Improved cash flows for transport operators may also strengthen demand for vehicle financing, benefiting lenders such as Shriram Finance and Cholamandalam Investment and Finance Company.

The picture, however, is less favourable for upstream oil producers. Companies such as ONGC and Oil India typically see revenue pressures when crude prices fall. Market estimates suggest ONGC loses roughly ₹300-400 crore in annual revenue for every $1-per-barrel decline in oil prices. Reflecting that concern, shares of ONGC and Oil India fell nearly 3% each during Friday's trade.