
Crude prices fall below $100; here’s how oil stocks reacted
Adani Total Gas declined 4%, followed by Reliance Industries, HPCL, GAIL, and IGL, which dropped up to 2%
Adani Total Gas declined 4%, followed by Reliance Industries, HPCL, GAIL, and IGL, which dropped up to 2%
The European Council agreed to immediately cut 75% of Russian oil imports.
As per the Petroleum Planning & Analysis Cell (PPAC) data, India imported only 0.2% of its crude oil import from Russia till January in the current fiscal.
The worst hit is likely to be edible oil where there are even chances of a short supply.
FM Sitharaman said that the FSDC meeting agreed that crude and the 'international worrisome situation' pose challenges to the domestic financial stability.