BPCL, HPCL, IOCL slip 6%; Jet Airways hits 52-week low as oil prices rise

Stock market - Shares of oil marketing companies (OMCs) such as Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL) have slipped up to 6% on the BSE in intra-day trade as oil prices rise amid supply disruptions.
At 10:50 am; the S&P BSE Oil & Gas index plunged 2.6% or 364 points at 13,810 points, as compared to 0.01% decline in the S&P BSE Sensex.

Among airlines companies, Jet Airways (India) hit a 52-week low of Rs 366, down 3% on the BSE in intra-day trade, while InterGlobe Aviation (down 2% at Rs 1,143) and SpiceJet (down 1.5% at Rs 112) too trading lower on the BSE.

Oil prices rose on Wednesday following supply disruptions in Libya and Canada and after US officials told oil importers to stop buying Iranian crude from November, the Reuters report suggested.

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