ONGC, Oil India rally 5% as Israel attack on Iran lifts oil prices by 12%. What are experts saying?

Shares of upstream oil companies rallied up to 5% as crude oil prices surged up to 12% after escalating tensions between the US, Israel and Iran disrupted Middle East supply routes. Upstream companies like ONGC and Oil India may benefit. Brokerages warn further escalation, especially around the Strait of Hormuz, could significantly raise prices and impact India’s economy.