# Brent crude prices fell significantly after the agreement to reopen the Strait of Hormuz.

*business · news · 2026-04-08 · The Economic Times*

## Key points

- A two-week US-Iran ceasefire led to Brent crude prices dropping to $95 per barrel.
- The Strait of Hormuz was reopened, removing immediate supply disruption risks for global oil markets.
- Indian stocks with significant Middle East exposure, like IndiGo and Larsen & Toubro, saw sharp rallies.
- Oil producers like ONGC and Oil India declined 2–3% due to lower crude prices impacting revenues.
- City gas distributors and paint manufacturers gained as lower crude prices reduced input and feedstock costs.

**Companies:** Reliance Industries, IndiGo, HPCL, BPCL, IOCL, Larsen & Toubro, Adani Ports, KEC International, Kalpataru Projects, Indraprastha Gas, Mahanagar Gas, Gujarat Gas, Petronet LNG, GAIL, Asian Paints, Berger Paints, BLS International, SpiceJet, Indian Hotels, ITC Hotels, GMR Airport, RCF, Paradeep Phosphates, National Fertilizers, Gujarat Narmada
**Countries:** United States, Iran, India, Israel

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/crude-oil-price-crash-25-stocks-which-benefit-the-most-from-iran-war-ceasefire/articleshow/130102738.cms)

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