India's oil marketing companies fall as Middle East tensions lift crude prices

Indian Oil

02/09/2026 05:49

** Shares of India's oil marketing companies fall
** Oil prices rise on Wednesday as concerns over supply disruption intensified after the U.S. and Iran exchanged ‌strikes overnight
** Brent crude futures rise 75 cents, or 0.8%, to $95.40 a barrel 
     ** Higher Brent crude prices can squeeze oil marketing companies' margins by increasing fuel procurement costs
** Shares of Indian Oil IOC.NS down 1.5%, Bharat Petroleum BPCL.NS down 1%, Hindustan Petroleum HPCL.NS falls 1.1%
** YTD, IOC down 18.4%, BPCL down 17.7% and HPCL down 27.5% 

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))