ONGC AND OIL INDIA TO GAIN AS RISING US-IRAN TENSIONS PUSH OIL PRICES HIGHER

Oil prices have been increasing amid rising tensions between US and Iran as the market has become increasingly concerned over the potential for imminent US strikes against Iran. The concern is not only for the Iranian oil supply, but also broader Persian Gulf oil flows, given the risk of disruption to shipments through the Strait of Hormuz. The US has increased it's presence in the region by deploying a significant number of fighter jets and support aircraft to the Middle East, prompting Iran to quickly sheild it's key nuclear facilities beneath concrete and earth, turning them into hardened bunkers. Stocks like

and stand to gain from the increase in global oil prices.