Oil Advertising Business Stocks Dip In The Middle Of Unrefined Cost Surge
Shares of Indian Oil Marketing Business (OMCs) experienced a slump on Thursday, February 19 th, attributed to rebounding global crude prices and geopolitical tensions.
- Supply Performance: BPCL dropped 3 % to 370 80, HPCL went down 2 75 % to 444 40, and IOC lowered 2 % to 175 24
- Crude Oil Rates: WTI crude futures climbed 4 60 % to $ 65 19 per barrel, Brent crude futures climbed 4 35 % to $ 70 35 per barrel.
- Geopolitical Elements: Concerns over possible US-Iran dispute and stalled Russia-Ukraine talks drove cost increases, threatening supply from key export regions.
- Effect on OMCs: Increasing crude rates impact marketing margins if retail prices don’t change, raising import costs and working funding.
