OMC Shares Decline as Crude Oil Reaches $114 Per Barrel

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OMC Stocks Plunge as Crude Oil Soars to USD 114 Amid West Asia Tensions

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News18•19-03-2026, 14:30

OMC Stocks Plunge as Crude Oil Soars to USD 114 Amid West Asia Tensions

•Shares of oil marketing companies (OMCs) plummeted on Thursday.
•Crude oil prices surged to USD 114.1 per barrel due to escalating tensions in West Asia.
•Higher crude prices threaten to squeeze refining and marketing margins for OMCs.
•Hindustan Petroleum Corporation Ltd, Bharat Petroleum Corporation Ltd, and Indian Oil Corporation saw significant drops.
•Indian equity markets also experienced a sharp decline, with Sensex and Nifty falling over 2%.

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