OMC, paint stocks in focus as crude rises to 4-month high

Oil prices have been on the rise in recent times due to tighter supply, as projected by the International Energy Agency in its recent outlook, and rising geopolitical risks. Geopolitical risks remain elevated, with a stepped-up campaign of Ukrainian drone strikes on Russian oil refineries. Ukraine has been striking Russian oil refineries in heavy drone attacks, causing a fire at Rosneft's Ryazan refinery and the opening of a new tab for the largest refinery in Russia.