Oil Prices Hit $112, Rattling Markets; Indian OMC Stocks Decline Amid Rising Iran War Risks

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Oil at $112 Rattles Markets, Indian OMC Stocks Slide Amid Iran War Risks

A ship loads crude oil at Bonga off-shore oil field outside Lagos, October 30, 2007. Oil fell more than $1 to near $89 a barrel on Wednesday, deepening its sharp profit-taking retreat from this week's record high on recovering Mexican oil output and an expected rise in weekly U.S. crude stocks. Picture taken October 30, 2007. REUTERS/Akintunde Akinleye (NIGERIA)

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CNBC TV18•19-03-2026, 11:34

Oil at $112 Rattles Markets, Indian OMC Stocks Slide Amid Iran War Risks

•Brent crude surges past $112 after Israel-Iran attacks on energy infrastructure, shaking global markets.
•Indian oil marketing companies (OMCs) like HPCL see stocks slide as input costs spike due to rising crude prices.
•Economists warn a prolonged Iran conflict could trigger a global recession, with Axis Capital's Neelkanth Mishra highlighting India's vulnerability.
•US national debt surpasses $39 trillion amid the US-Israeli war in Iran, raising concerns about competing priorities.
•US Federal Reserve keeps interest rates unchanged but projects one rate cut this year, while HPCL shares near 52-week low.

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