-India's state-run oil refiners slide on higher crude prices

Bharat Petroleum

08/10/2026 09:12

** Shares of India's state-run oil refiners fall as much as 4% on Thursday as rising global crude prices raise concerns over higher input costs and pressure on fuel marketing margins
** Hindustan Petroleum Corp HPCL.NS falls 4.05% to 329.25 rupees, Bharat Petroleum Corp BPCL.NS drops 3.64% to 285.55 rupees, while Indian Oil Corp IOC.NS sheds 3% to 126.10 rupees
** Brent crude futures LCOc1 climb 2.2% to $102.5 a barrel on persistent worries about Middle East supplies amid increased attacks on shipping in the Gulf and Strait of Hormuz
** India relies on imports for most of its crude oil requirements, leaving domestic refiners exposed to volatility in global oil prices
** YTD, HPCL down ~40% BPCL fell 25.4% and IOC dropped 24.1%

 (Reporting by Surbhi Misra in Bengaluru)
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