Shares of aviation companies, including InterGlobe Aviation, the parent of IndiGo, and SpiceJet, rose up to 4% on Thursday after crude oil prices slipped below levels seen before the Iran war began on February 28.
With the latest decline, oil prices have tumbled 42% from the $126-a-barrel peak touched on April 30, when the closure of the Strait of Hormuz stoked fears of a major supply disruption.
