BPCL, HPCL to IOC: OMC stocks fall up to 5.5% on sharp rebound in crude oil prices

Shares of state-run oil marketing companies BPCL, HPCL and IOC fell up to 5.5% as a sharp rebound in crude oil prices, triggered by escalating Middle East tensions and US strikes on Iran, prompted profit booking. HPCL dropped 5.5% to Rs 384.20, BPCL declined 4.7% to Rs 299.40, and IOC slipped 3.5% to Rs 137. Brent crude surged 6% to an intraday high of $78 per barrel and WTI rose 6% to $74.74, raising concerns about higher input costs and squeezed marketing margins for OMCs.