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Commodities

Brent Crude Oil Price Surges to Seven-Day High Amid Geopolitical Tensions

Guavy AI Editorial Team
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Oil
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The Brent crude oil price surged to a seven-day high of $91.58 per barrel on Tuesday, August 31, due to rising geopolitical tensions in West Asia.

This increase has led to selling pressure on oil-sensitive stocks, including aviation companies like InterGlobe Aviation (IndiGo) and tyre makers, with prices falling by up to 6.6% intraday.

Oil downstream companies such as Indian Oil, Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) were also impacted, with their shares declining by up to 3.4% during the trading session.

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