New Delhi, July 8 -- Shares of oil marketing companies (OMCs) fell up to 5.5% on Tuesday, 8 July.

The three state-run OMCs-Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), and Indian Oil Corporation (IOC)-saw their share prices retreat, giving up recent gains as escalating tensions in the Middle East triggered a sharp rebound in crude oil prices, prompting investors to book profits.

HPCL shares fell as much as 5.5% to Rs.384.20 apiece, while BPCL declined 4.7% to Rs.299.40 and IOC slipped 3.5% to Rs.137 apiece.

Crude oil prices extended their gains on Wednesday after surging in the previous session following U.S. strikes on Iran. The military action came after a series of recent attacks on vessels transiting...