The Economic Times

HPCL, other OMC stocks tumble 4% as oil surges back above $100; Iran warns prices can hit $200

Oil marketing company shares tumbled as crude prices surged past $100 per barrel following Iran's attacks on Middle Eastern oil tankers. Iran warned of prices potentially reaching $200, escalating regional tensions and impacting global supply routes. This volatility is expected to pressure OMCs' margins and cash flows.