SpiceJet, IndiGo & Jet Airways Fall 1-4% As Crude Prices Surge

Shares of aviation companies are falling in trade on the back of higher crude oil prices. 

SpiceJet, IndiGo and Jet Airways fell between 1 and 4 percent.

Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check.

U.S. West Texas Intermediate crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 percent, from their last close.

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