Oil-linked stocks slip as crude prices surge after Saudi oil disruption

Oil marketing companies (OMCs), paint, and tyre stocks came under heavy pressure on Monday after crude oil prices surged more than 10 per cent following attacks on two Saudi Arabian plants that slashed output in the world's top producer by half. US President Donald Trump blamed Iran for the attack, thus raising the possibility of a military strike on the country.

West Texas Intermediate jumped 10.68 per cent to $60.71 and Brent climbed 11.77 per cent to $67.31 in early Asia trading following the blasts at facilities run by state-owned giant Aramco. Brent oil prices hit a 28-year high, rallying