Crude Oil Surge Hits OMCs: HPCL Nears 52-Week Low, Brokerages Cut Targets

• HPCL shares fell 6% to near its 52-week low, with BPCL and IOC also dropping 3-4%.
• Rising crude oil prices, driven by West Asia tensions and attacks on energy infrastructure, are impacting OMCs.
• Brent crude reached $113/barrel and WTI crude hit $100/barrel due to geopolitical events.
• Brokerage Kotak Institutional Equities raised oil price forecasts and cut target prices for IOC, BPCL, and HPCL, maintaining a "Sell" rating.
• JPMorgan estimates a $1/barrel crude price change could impact OMCs' EBITDA by 7% in FY27.