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Mar 07, 2026, 09:56:21 AM IST
Oil prices saw a massive rally last week amid the raging war in the Middle East, as the Strait of Hormuz effectively closed for traffic, leading to disruption of shipments and supply constraints. US crude oil prices rose to $84.90, the highest since April 2024. Brent crude futures rose to the highest since July 2024 at $87.66 a barrel, recording a 20% weekly rise—the largest since Russia launched its full-scale invasion of Ukraine in February 2022. Qatar's energy minister Saad al-Kaabi told the Financial Times that global oil prices could surge to as high as $150 a barrel if the conflict in the Middle East intensifies and disrupts energy supplies from the Gulf.
ETMarkets.com
Mahanagar Gas (MGL) shares declined more than 14% in the last one week to close at Rs 1,049.30 apiece on Friday. The stock has fallen more than 9% in the past one month, and around 22% in one year.
Petronet LNG shares tumbled more than 11% in the last one week to close at Rs 290.40 apiece on Friday. The stock has fallen around 3% in the past one month. The company had to issue force majeure notices to QatarEnergy and others, as vessels were unable to safely transit through the Strait of Hormuz.
ANI
Indian Oil Corporation (IOC) shares tumbled more than 10% in the last one week to close at Rs 168.68 apiece on Friday. The shares of the OMC have fallen more than 4% in the past one month, but gained 34% in the past one year.
ETMarkets.com
Hindustan Petroleum Corporation (HPCL) shares tumbled nearly 8% in the last one week to close at Rs 404.95 apiece on Friday. The stock has fallen 12.5% in the past one month, but gained 19% in one year.
Bharat Petroleum Corporation (BPCL) shares tumbled more than 8% in the last one week to close at Rs 352.75 apiece on Friday. The stock has fallen over 8% in the past one month, but gained 33% in past one year.
ETMarkets.com
Indraprastha Gas (IGL) shares tumbled nearly 8% in the last one week to close at Rs 157.27 apiece on Friday. The stock has fallen more than 10% in the past one month, and 16% in the past one year.
ETMarkets.com
Oil India shares overall gained only 0.14% during last week to close at Rs 484.50 apiece on Friday. The stock has fallen around 3% in the past one month, but gained 30% over the past one year.
ANI
Oil & Natural Gas Corporation (ONGC) shares gained 0.07% over the last week to close at Rs 278.95 on Friday. The stock has risen over 4% in the past one month, and 20% over the past one year.
Agencies
Reliance Industries (RIL) shares gained 0.94% over the last week to close at Rs 1,404.80 apiece on Friday. The heavyweight stock has fallen more than 3% in the past one month, but gained 16% over the past one year.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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