Oil Marketing Firm Supplies Dip In The Middle Of Crude Price Rise
Shares of Indian Oil Advertising Companies (OMCs) experienced a slump on Thursday, February 19 th, credited to rebounding global crude prices and geopolitical tensions.
- Supply Efficiency: BPCL dropped 3 % to 370 80, HPCL went down 2 75 % to 444 40, and IOC reduced 2 % to 175 24
- Petroleum Costs: WTI unrefined futures increased 4 60 % to $ 65 19 per barrel, Brent crude futures climbed up 4 35 % to $ 70 35 per barrel.
- Geopolitical Variables: Worries over possible US-Iran dispute and delayed Russia-Ukraine talks drove price boosts, endangering supply from vital export areas.
- Impact on OMCs: Increasing crude rates influence marketing margins if retail prices do not adjust, boosting import costs and working capital.