 "oil, oil prices, brent crude, oil crisis, currency depreciation, iran oil crisis, global oil, oil firms, economy")
The rising tension between the United States and Iran and its consequent impact on Brent crude oil, which surged further on Monday to around $70 per barrel, has only added to the woes of India Inc. Companies, which are already grappling with the sagging economic situation, now also face the potential threat of higher costs, and therefore, a fall in margins.
The Street’s concern was also palpable. Stocks pertaining to the sectors with relatively higher co-relation with crude oil prices, such as oil marketing (OMCs), aviation, paints and adhesives, cement, and tyres were down up to 7 per cent, as against
