Oil Marketing Stocks Slide as Crude Rebounds on US-Iran Tensions

Shares of major oil marketing companies came under selling pressure on Thursday, with !HPCL dropping up to 2.7%, $IOC declining 2%, and $BPCL L falling 1.7%. The broader crude-sensitive basket, including airlines, tyre makers, and paint companies, also traded lower amid a sharp rebound in global oil prices. Brent crude climbed above $95 per barrel after fresh US strikes on Iran and Tehran's announcement regarding the possible closure of the Strait of Hormuz, a critical oil transit route. Higher input costs raised concerns over margins for downstream players