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

Shares of gas companies surged on Tuesday, with Petronet LNG leading the charge, following U.S. President Donald Trump's optimistic remarks about the potential end of the conflict in Iran. Trump's statements suggested that the situation could stabilize soon, alleviating fears of prolonged disruptions in oil supply through the critical Strait of Hormuz, a major transit route for energy supplies. The comments come after a week of escalating tensions between Iran and the U.S., which had previously led to significant declines in gas stocks and rising supply shortages in major Indian cities like Mumbai and Bengaluru. In response to the geopolitical crisis, the Indian government had invoked emergency measures to ensure the availability of liquefied petroleum gas (LPG) for domestic consumption, as over 60% of India's LPG needs are met through imports, primarily passing through the Strait. Following Trump's announcement, crude oil prices experienced a sharp decline, bringing some relief to the market. Petronet's stock increased by approximately 5%, recovering from earlier losses linked to force majeure notices due to transit issues. Other gas stocks, including Gujarat Gas and GAIL, also saw gains, reflecting renewed investor confidence amid easing supply fears.