Reliance, BPCL to Adani Total Gas: Oil & Gas shares fall after crude oil prices jump on fresh escalation in US-Iran war
Shares of oil & gas companies traded sharply lower on Monday, in-line with the broader Indian stock market crash, after crude oil prices surged amid escalating US-Iran war in the Middle East.
The Nifty Oil & Gas index declined 1.6%, with all its constituents trading in the red. Chennai Petroleum Corporation shares were the top loser in the index with a fall of 3.2%. It was followed by Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) shares which dropped more than 2.5% each.
