Israel-Palestine Conflict: OMCs, Paint, and tyre stocks take a hit as crude oil prices soar

Israel-Palestine Conflict Impact: Oil Marketing Companies (OMC) stocks in early trade on Monday (October 9, 2023) were seen reeling under pressure as oil prices climbed by a sharp 5 per cent in early Asian trade amid military conflict in the Middle East. The heightened political uncertainty in the region poses concerns of a supply disruption from the Middle East, accounting for around one-third of global supply.