HIGH CRUDE PRICES TO IMPACT OIL MARKETING COMPANIES IN INDIA

Israel-Iran conflict have impacted global energy markets by sending oil prices soaring amid concerns that supplies from the region would be disrupted The price of benchmark Brent crude surged by over $6 to cross a five-month high of $78 per barrel on Saturday. Further, disruption around the Strait of Hormuz may affect oil shipments from Iraq, Saudi Arabia, UAE, to India OMCs like

, , are dependent on imported crude oil for their refineries. Higher crude prices means lower profit margins for these companies