New Delhi, April 10 -- Shares of oil marketing companies (OMC) rose up to 2.5% in the early morning session on Friday, April 10, as crude oil prices trimmed gains ahead of the US-Iran ceasefire talks scheduled to take place in Pakistan this weekend.

A possible breakthrough in the Middle East war and hopes of reopening the Strait of Hormuz, which accounts for nearly 20% of global oil passage, have pulled crude oil prices below their recent highs hit at the height of the crisis.

Oil prices had risen by over 50% last month and weighed heavily on the PSU oil stocks. This week, both contracts - Brent and WTI - have lost 11% so far, the biggest weekly decline since June 2025, according to a Reuters report. At the time of writing, Brent crude ...