OMC Stocks Plunge 9% as US-Iran Tensions Drive Oil Prices Up; What Should Investors Do?

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OMC Stocks Crash 9% as Oil Surges Amid US-Iran War; UBS Downgrades HPCL, BPCL, IOC

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News18•09-03-2026, 11:03

OMC Stocks Crash 9% as Oil Surges Amid US-Iran War; UBS Downgrades HPCL, BPCL, IOC

•Indian OMCs (HPCL, BPCL, IOC) stocks plunged up to 9% in early trade due to surging crude oil prices amid the US-Iran conflict.
•UBS downgraded BPCL and IOC to 'neutral' and HPCL to 'sell', cutting FY27 profit estimates significantly due to weaker marketing margins.
•Risks to oil prices remain skewed upward; a prolonged conflict could push Brent Crude above $90-$100 per barrel.
•A $5 per barrel rise in crude, if not passed on, could wipe out nearly half of OMC profits, warns UBS.
•Strait of Hormuz, a critical chokepoint, handles nearly one-fifth of global oil supply; its disruption could risk 16 mb/d of oil.

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