Indian Oil Stocks Dip Amidst High Crude Costs
Mumbai– Shares of Indian Oil Marketing Firms (OMCs) faced selling stress Monday as petroleum prices continued to be above $ 100 per barrel. Geopolitical tensions impacting the Strait of Hormuz are raising concerns regarding sustained disruptions and pumped up input prices.
- Stock Performance: IOC fell 5 3 %, HPCL decreased 5 %, and BPCL slid 4 7 %.
- Crude Impact: Brent crude is near $ 105 a barrel, up 40 % given that current escalations.
- Expert View: HDFC Securities notes weakened near-term margins as a result of unmodified retail gas rates amidst climbing unrefined costs.
- Expectation: IOC is relatively much better located than BPCL and HPCL because of its lower advertising and marketing mix.
