HPCL, BPCL to IOC: OMC stocks crash up to 9% as crude hits 4-year high on US-Iran war. Should you sell these PSU stocks?

Shares of oil marketing companies (OMCs) fell up to 9% in morning trade on Monday, March 9, after crude oil prices rose to their highest level in four years amid supply disruptions from the escalating conflict in the Middle East.

So far this month, all three OMCs — Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited (IOC) and Bharat Petroleum Corporation Limited (BPCL) — have lost 14-15% as oil PSUs braved the impact of higher crude oil prices, which eat into their earnings.