Poging GOUD - Vrij
War meets peak OMC earnings
Mint Mumbai
|March 04, 2026
The market’s reaction to the joint US-Israel strikes on Tran wasn’t exactly subtle.
More than half of India's imported crude makes its way through the Strait of Hormuz.
(REUTERS)
The war is choking the Strait of Hormuz, hurting tanker flows and causing oil markets to react. Brent is now over $80 a barrel.
Back home, the Nifty 50 index fell 1.2% on Monday, while shares of state-run oil marketing companies (OMCs) declined around 4%. OMCs include Bharat Petroleum Corp. (BPCL), Hindustan Petroleum Corp. (HPCL) and Indian Oil Corp. (IOCL).
Even before the latest escalation in Iran, stock prices remained stagnant despite a blockbuster December quarter (Q3FY26) in which OMCs doubled their combined profits year-on-year. The geopolitical developments since then have pushed Brent crude up from $60 a barrel in January to over $80 a barrel.
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