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Crude Oil Price Surge Rattles Market, Petroleum and Paint Stocks Drop
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Crude Oil Surge Rocks Market: Petroleum, Paint Shares Plunge Amid Middle East Tensions
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News18
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09-03-2026, 23:02
Crude Oil Surge Rocks Market: Petroleum, Paint Shares Plunge Amid Middle East Tensions
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Crude oil prices surge due to increasing Middle East tensions, impacting the Indian stock market.
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Oil marketing companies face pressure; BPCL, HPCL, and IOC shares drop significantly.
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Brent crude jumps 14% to approximately $105.9 per barrel, fueling global supply fears.
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Paint companies' shares also fall as petrochemical-based raw material costs rise with oil prices.
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Asian Paints, Berger Paints, Shalimar Paints, Indigo Paints, and Kansai Nerolac Paints see declines.
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