Oil prices decline, LPG under-recovery improves: A slew of concerns over trade tariffs and global GDP combined with increased supply of 1.2mnbopd resulted in Brent diving to below USD60/bbl for a while and then picking up subsequently to average USD68/bbl during the quarter, a decline from USD75.7/bbl in Q4FY25. Decline in oil prices would result in falling realizations of ~8% QoQ for ONGC and Oil India. Decline in oil prices would aid gross marketing margins on petrol and diesel sequentially from Rs10.4/6.4/lit to Rs12/10/lit respectively. Decline in benchmark LPG prices would also reduce...