Shares of India's state-run oil marketing companies (OMCs) Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd, tumbled in early trade on Wednesday, July 8, amid a surge in global crude oil prices on the ongoing geopolitical tensions between US and Iran. The US military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again.