New Delhi, Nov. 11 -- Crude oil prices briefly slipped below the $90-per-barrel mark for the first time since August, raising hopes of improved profitability for India's oil marketing companies (OMCs), including Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL).

Brent crude prices dropped below $90 per barrel during Tuesday's trading session, November 10, before recovering above the psychological level. The decline came after US President Donald Trump indicated that further military action against Iran was unlikely, raising expectations of a possible diplomatic resolution to the conflict and normalisation of energy supplies through the Strait of Hormuz.

The correction in crude p...