Petronet LNG, other gas stocks jump up to 5% as Trump’s Iran war remarks ease supply worries

This comes after the stocks took a severe beating earlier last week as tensions between Iran and Israel-US escalated, with no sign of a diplomatic resolution. Following the remarks, crude oil prices plunged sharply after a blistering rally that had pushed prices past the $100 mark for the first time since Russia–Ukraine War began in 2022.

• Meanwhile, shares of Gujarat Gas rose about 1.6%, GAIL (India) gained more than 2%, while Indraprastha Gas Limited was up over 1%.
• India imports more than 60% of its domestic LPG needs, and around 85–90% of these imports pass through the Strait of Hormuz.
• The country consumed 31.3 million tonnes of LPG in FY25, of which only 12.8 million tonnes were produced domestically.

Watch next: Trump on Monday told CBS News that he believes the war against Iran “is very complete” and that Washington was “very far ahead” of his initial four-to-five week estimated timeframe.