Indian Refiners Slip on Tariff, Russia Jitters

  Published 8 months ago

Shares of Indian refiners fell amid market weakness, tariff concerns, and fears over disrupted Russian crude oil supply.

  • HPCL, BPCL, and IOC dropped 2–2.6%, Reliance slid 1.6% as the oil & gas index fell 1.2% overall.
  • The market reacted to Trump’s 25% tariff threat and India’s energy trade risks with Moscow, dragging broader indices down 0.7%.
  • Jefferies warns potential Russian crude supply shift may hurt refiners’ margins and profitability going forward.

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