Buy Hold Sell: Which ASX stocks win as oil prices fall? (plus 2 surprise picks)

Buy Hold Sell, by Livewire Markets · Jun 29, 2026 · 19m

Just weeks ago, markets were pricing in the risk of a prolonged conflict in the Middle East, with oil surging as investors feared disruptions to global supply. Today, much of that geopolitical risk premium has unwound. Brent crude has retreated to around its pre-war levels following a US-Iran peace agreement, even as fresh flare-ups serve as a reminder that the situation remains far from settled.

Whether the recent pullback in oil proves temporary or not, investors are already asking the next question: who stands to benefit? The obvious winners are businesses with large fuel bills. But lower…