Crude oil sensitive stocks fell sharply Monday with Indian Oil Corp. hitting its lowest level since Dec. 22, 2023. Hindustan Petroleum Corp. fell to its lowest in over a month, while Bharat Petroleum Corp. share price hit lowest since June 5.
The fall came as crude oil price rose as much as 2.17% intraday to $81.49 per barrel — its four-month high — on fresh wave of US sanctions against Russia's energy industry. These sanctions are expected to affect Russian crude exports to top buyers China and India. The latest sanctions could threaten 300,000–800,000 barrels per day of oil supply.
Oil prices have risen over 8% in 2025. At 1:21 p.m. March futures of Brent crude traded 1.5% up at $80.95 a barrel.
Share price of Indian Oil Corp. fell as much as 5.5% intraday to hit Rs 123.12, its lowest level since Dec. 22, 2023, that of Hindustan Petroleum Corp. fell as much as 7.3% intraday to hit Rs 360.15, its lowest since Nov. 22, and Bharat Petroleum shares fell as much as 3.2% intraday to Rs 268.80, its lowest since June 5.
Higher oil price stand negative for oil marketing companies with fixed retail prices as they increase cost of importing crude and negatively impact marketing margins. Meanwhile, this is positive for Oil India Ltd. as higher oil prices need higher realisation for the company and no windfall taxes applicable currently is a big positive.
Therefore, share price of Oil India snapped two-day fall and rose as much as 5% intraday. In the last 12 months, the stock has gained nearly 61%.
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