Market News

China kept building its crude stockpile in April despite Iran crisis

China is accumulating crude oil reserves even as imports decrease. This contrasts with global trends of depleting oil stocks. The nation's refinery processing has also slowed. Analysts suggest China could sustain this inventory build for years. Future import levels and fuel export decisions will determine if China begins drawing down its substantial stockpiles.

India's core industries grow at 1.7% in Apr-26, Cement production continues to spike

The combined Index of Eight Core Industries (ICI) increased by 1.7 per cent (provisional) in April, 2026 as compared to the Index in April, 2025. The production of Cement, Steel and Electricity recorded positive growth in April, 2026. The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). The final growth rate of Index of Eight Core Industries for March 2026 was observed at 1.2 per cent. The cumulative growth rate of ICI during April to March, 2025-26 is 2.7 per cent as compared to the corresponding period of last year.

Petrol, Diesel Prices To Rise? OMCs Eye Modest Fuel Price Hike As Losses Mount, Says Report

A Bharat Petroleum Corp. oil refinery in Mumbai.

India shielded fuel supply through crude diversification amid Hormuz turmoil: S&P Global Energy official

India's refinery operations remain robust despite global energy market disruptions from the Strait of Hormuz crisis. The nation has diversified crude purchases, increasing imports from multiple sources, including significant Russian oil acquisition, to maintain domestic fuel supplies. While India's energy system faces pressure, its efficient buying strategy and diversified sourcing have kept refineries running at strong levels.

Media Matrix Worldwide Ltd leads gainers in 'B' group

Gandhar Oil Refinery (India) Ltd, HB Estate Developers Ltd, Raymond Realty Ltd and Handson Global Management (HGM) Ltd are among the other gainers in the BSE's 'B' group today, 06 May 2026.

India caps refinery margins after windfall export tax to cushion fuel losses

India has capped refinery margins to manage losses on domestic fuel sales. This follows a windfall tax on fuel exports. The move aims to balance record losses on petrol and diesel due to high international oil prices. Refineries will now effectively transfer excess earnings to state-run marketing companies. This adjustment impacts the pricing of diesel, aviation turbine fuel, and kerosene.

Crude oil surges above $119 amid Iran conflict, Gulf energy attacks raise supply fears

Crude prices surged past $119 a barrel as attacks on Gulf energy assets, including Qatar's LNG plants and Saudi Arabia's Yanbu refinery, intensified fears of prolonged market disruptions. Indian policymakers are preparing for a sustained supply crunch and higher energy prices, with refiners worried about absorbing rising costs amid government reluctance to approve retail fuel price hikes.

HMEL to invest Rs 2,600 cr in speciality, fine chemicals sector in Punjab: LN Mittal

HPCL-Mittal Energy Limited (HMEL) announced a Rs 2,600 crore investment in Punjab's speciality and fine chemicals sector. Additionally, HMEL plans to launch 500 new retail fuel outlets nationwide, equipped with modern technology. This expansion follows HMEL's significant Rs 60,000 crore investment in its Bathinda refinery, Punjab's sole oil refinery.

Gandhar Oil flags 20% oil price surge, forex risks; says UAE plant ops may be hit

The company said its UAE plant, a 50.1% subsidiary, is maintaining optimum inventory levels, and domestic sales are ongoing. However, if the war continues, raw material supply could be affected, potentially impacting UAE operations. Shares of Gandhar Oil Refinery India Ltd ended at ₹129.90, down by ₹0.25, or 0.19%, on the BSE today, March 10.

Reliance to partner AFR for $300 billion US oil refinery project

Reliance Industries will partner with America First Refining to build the first major US oil refinery in 50 years in Brownsville, Texas. Hailed as a "historic $300 billion deal" by President Trump, the project aims to boost American energy production and create thousands of jobs, with construction slated to begin in Q2 2026.

Trump announces Reliance investment in new US oil refinery; calls $300bn Texas deal as historic

RIL Share Price Trades Higher After Trump Announces US Oil Refinery Project

RIL share price went as high as 1.8% to Rs 1,434 on the NSE, compared to a 0.3% decline in the benchmark Nifty 50.