IOC, HPCL, BPCL fall up to 4.5% after crude oil prices rise above $61 a barrel

As the crude is raw material for these companies, any ups and downs in oil prices always have direct impact on their operational income.

Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation shares were down 2.6-4.5 percent intraday Wednesday after increase in crude oil prices.

As the crude is raw material for these companies, any ups and downs in oil prices always have direct impact on their operational income.

Oil prices rose by more than 1 percent, pushed up by a North Sea production outage and expectations in the market that OPEC will next week decide to implement some form of supply cut to counter an emerging glut.

US West Texas Intermediate (WTI) crude futures were at $52.00 per barrel, up 0.85 percent from their last settlement.

International Brent crude oil futures were up 0.76 percent, at $60.67 per barrel after hitting an intraday high of $61.25.

At 14:45 hours IST, IOC was down 2.42 percent at Rs 134.90 while HPCL was down 3.72 

percent at Rs 236.80 and BPCL down 4.41 percent at Rs 319.55 on the BSE

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