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Gujarat Gas restricts industrial supply, invokes force majeure
Gujarat Gas has invoked force majeure on its gas supply agreements. This action restricts daily contracted quantities for industrial users. The company cites severe constraints in regasified liquefied natural gas availability. The ongoing war in the Middle East region is impacting the gas supply scenario. Gujarat Gas is closely monitoring developments.
Indices slide sharply amid Iran war jitters and crude price spike
The domestic equity benchmarks ended sharply lower on Wednesday as investors turned risk-averse amid escalating geopolitical tensions and a sharp surge in crude oil prices. The ongoing conflict involving the United States, Israel and Iran unsettled global markets, while the reported closure of the Strait of Hormuz pushed oil prices higher, raising concerns over inflation and energy costs. Sentiment was further dented by heavy selling from foreign institutional investors and the rupee slipping to a record low. Against this backdrop, the Nifty closed below the 24,500 mark. Barring the Nifty IT index, all other sectoral indices on the NSE ended in the red, with metal, PSU bank and oil & gas stocks leading the decline.
Qatar halts LNG output after attacks; disruptions to hit Indian supplies, city gas firms flag concerns
Qatar has stopped liquefied natural gas production following attacks. This halts supplies to India, affecting industrial consumers and city gas companies. Petronet LNG cannot send ships through the Strait of Hormuz. This disruption impacts India's energy needs and domestic sectors. Companies are seeking clarity on future gas availability.
Energy Outlook | Gas prices nearly double amid West Asia tensions, says Crisil
Crisil Intelligence’s Director Sehul Bhatt says Middle East tensions pose a bigger risk to gas than oil as India has lower gas inventories and relies heavily on imports. With about 50% of gas imported—around 40% from Qatar—any disruption can tighten supply. Spot LNG prices have already surged to nearly 1.9–2 times pre-conflict levels, hurting industrial and commercial consumers the most. Bhatt adds industries may switch to alternate fuels like fuel oil or LPG if gas prices remain elevated.
Petronet LNG, Mahanagar Gas slump as global LNG prices surge
Shares of Petronet LNG and Mahanagar Gas fell sharply after global liquefied natural gas prices climbed to their highest level since 2023 amid supply disruptions in the Middle East.
Iran Guards claim ‘complete control’ of Strait of Hormuz, warn ships face missile and drone risk
Israel-Iran War: The Iranian Revolutionary Guard Corps has stepped forward with a significant statement, claiming sovereignty over the pivotal Strait of Hormuz—a corridor that facilitates a vast amount of the world's oil and gas shipments. Their cautionary note to vessels indicates potential threats from missiles or drones, coinciding with a surge in regional tensions.
Shares to buy or sell: Ruchit Jain of Motilal Oswal recommends BEL, and ONGC amid US-Iran war jitters
Indian stock markets fell sharply as Nifty 50 dropped 1.92% and Sensex 2.13% amid rising geopolitical tensions and high oil prices. The Indian rupee hit a record low against the dollar, prompting warnings for traders to remain cautious until a trend reversal occurs.
ONGC, Oil India shares gain up to 2% as US, Israel attack on Iran lifts oil to over $80. What’s next for prices?
Middle East tensions are driving up crude oil prices, impacting Indian energy stocks like ONGC and Oil India. Escalating attacks and potential disruptions in the Strait of Hormuz could significantly boost oil prices, raising India's import bill and inflation risks. Analysts warn of substantial price hikes if the conflict widens.
These oil and gas stocks could be impacted due to the US-Iran war, as per Citi
Sources have also told CNBC-TV18 that Gujarat Gas has cut 50% of its gas supply to the industrial sector. The company has around 70% gas imports in its raw material basket, mostly from Qatar.
Stocks to watch: Amid US-Iran war, Tata Motors CV, ONGC, MRPL, Adani Ports among 10 shares in focus on Wednesday - Mint
Stocks to watch: Amid US-Iran war, Tata Motors CV, ONGC, MRPL, Adani Ports among 10 shares in focus on WednesdayMint
India says oil stocks enough to absorb short-term shocks
India has assured sufficient oil stocks to handle any short-term disruptions from the Gulf conflict. This comes after an Iranian drone attack impacted Qatar's LNG facility, India's top supplier. State-run gas marketers have cut supply to several industries. The Strait of Hormuz remains blocked.
Industrial users stare at propane, natural gas shortage after Qatar halted production
Indian industries face potential propane and natural gas shortages. Qatar has halted liquefied natural gas production following a drone attack. This impacts industrial customers, though household piped natural gas supplies remain unaffected. Companies are monitoring the situation closely. Global energy prices and shipping costs are also rising.