Indian refiners slump as crude rockets to 2022 highs on Iran conflict

Oil India

09/03/2026 03:57

March 9 (Reuters) - Indian refiners slumped on Monday, as the widening U.S.-Israeli war with Iran propelled crude prices to their highest in almost four years.

Indian Oil IOC.NS lost 6.6%, HPCL HPCL.NS dropped 7.5%, while BPCL BPCL.NS slid 7.1%. Reliance Industries RELI.NS shed 2%.

Brent crude LCOc1 jumped as much as 26.4% to $117.16 a barrel and was last up 23% at $114.08 by 9:15 a.m. IST. O/R

 (Reporting by Yagnoseni Das in Bengaluru; Editing by Sumana Nandy)

 ((Yagnoseni.Das@thomsonreuters.com;))