August 23, 2018 / 6:25 AM / 5 months ago

BUZZ-India's oil marketing firms drop on strong overnight crude prices

** Shares of oil marketing cos Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd fall as much as between 3 pct and 3.7 pct

** Oil prices rose 3 pct on Wednesday, with Brent crude futures hitting a three-week high, after U.S. government data showed a larger-than-expected draw in crude inventories and as Washington’s sanctions on Iran signaled tightening supplies

** However, international oil prices slipped on Thursday, weighed down by the escalating trade dispute between the United States and China

** Bharat Petroleum Corp falls up to 3 pct to 357.55 rupees, its lowest since July 15, 2016

** Shares of Hindustan Petroleum down 36.3 pct this year, as of last close

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