India's oil marketing companies fall as crude prices jump on US-Iran escalation
11/06/2026 07:09
BUZZ-India's oil marketing companies fall as crude prices jump on US-Iran escalation ** Shares of Indian oil marketing cos down between 2.5% and 3.3%
** HPCL HPCL.NS falls 3.3% to 361.8 rupees, BPCL BPCL.NS down 2.5% at 280.7 rupees and Indian Oil Corp IOC.NS falls 2.5% to 280.8 rupees
** Oil prices jump after Tehran declares Strait of Hormuz closed after the U.S. launched additional strikes against Iran and as President Donald Trump vowed even more attacks if no peace deal is secured
** Brent futures LCOc1 near $94 per barrel
** Higher oil prices tend to reduce operating margins for oil marketing companies
** Nifty Oil and Gas .NIFOILGAS index down 0.3%
(Reporting by Mridula Kumar in Bengaluru)
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