Three PSU OMCs fell by 2.99% to 4.20% at 13:48 IST on BSE after crude oil prices edged higher in Asian trade today, 18 June 2014.
BPCL (down 4.20%), HPCL (down 4.14%) and Indian Oil Corporation (down 2.99%), edged lower.
The S&P BSE Sensex was down 248.86 points, or 0.98% at 25,272.33.
International crude oil prices rose following reports that Sunni militants attacked Iraq's largest oil refinery, located in Baiji in northern Iraq, with machine gun fire and mortars on Wednesday, 18 June 2014.
US crude oil futures for July delivery rose 52 cents to $106.88 a barrel in electronic trade today, 18 June 2014. Brent crude was up 20 cents to $113.65.
Higher crude oil prices will increase under-recoveries of PSU OMCs on domestic sale of diesel, LPG and kerosene at controlled prices. The government has already freed pricing of petrol.
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