HPCL, BPCL, IOC shares fall up to 6% as US-Iran war brings oil prices on boil
The fall in oil stocks comes amid brent crude oil prices rising 12.37% to $81.89 per barrel. The boil in crude prices is attributed to escalating geopolitical tensions in the Middle East as US-Iran war escalates.
- Mar 2, 2026,
- Updated Mar 2, 2026 9:47 AM IST
Shares of India's downstream oil refiners, including Hindustan Petroleum Corporation Ltd. (HPCL), Bharat Petroleum Corporation Ltd. (BPCL), and Indian Oil Corporation Ltd (IOC) slipped up to 6% in early deals amid a surge in crude oil prices as war between US and Iran escalates.
BPCL shares fell 6%, HPCL lost 5.3% and IOC stock lost 5% in early deals.
The increase in crude prices poses a challenge for oil marketing companies as raw material costs rise and impact their margins.
This follows a surge in crude oil prices, with Brent crude prices rising 12.37% to $81.89 per barrel. The rise in crude prices is attributed to escalating geopolitical tensions in the Middle East as US-Iran war escalates.
Shares of India's downstream oil refiners, including Hindustan Petroleum Corporation Ltd. (HPCL), Bharat Petroleum Corporation Ltd. (BPCL), and Indian Oil Corporation Ltd (IOC) slipped up to 6% in early deals amid a surge in crude oil prices as war between US and Iran escalates.
BPCL shares fell 6%, HPCL lost 5.3% and IOC stock lost 5% in early deals.
The increase in crude prices poses a challenge for oil marketing companies as raw material costs rise and impact their margins.
This follows a surge in crude oil prices, with Brent crude prices rising 12.37% to $81.89 per barrel. The rise in crude prices is attributed to escalating geopolitical tensions in the Middle East as US-Iran war escalates.