New Delhi, Nov. 10 -- New Delhi: The Indian economy and oil marketing companies (OMCs) may get some relief as oil prices hover near four-month lows on Tuesday.

At around 6:30pm, Brent crude's January contract on the Intercontinental Exchange was trading at $90.22 a barrel, down 2.54% from its previous close. Brent had earlier slipped below $90 a barrel for the first time since 31 August. West Texas Intermediate's December contract on the NYMEX fell 2.06% to $85.07 a barrel.

Brent was around $70 per barrel on 1 February 2026, when the Union Budget 2026-27 was presented. It was trading at $72 a barrel before the war began on 28 February.

"The fiscal impact continues. Due to high oil prices, the initial hit was borne by OMCs, as prices we...