ONGC, BPCL, HPCL; what’s happening to oil stocks today?ONGC, BPCL, HPCL; what’s happening to oil stocks today?

Introduction

Leading oil producers saw share declines as Middle East attacks disrupted shipments, halted Strait of Hormuz traffic, and pushed Brent and WTI crude prices higher for consecutive sessions.

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Middle East Tensions Hit Oil

Shares of oil companies including ONGC, BPCL, and HPCL fell on March 4, 2026, as crude prices rose due to escalating Middle East attacks.

Crude prices advanced for a second session. Brent crude gained $1.11, or 1.4%, to $82.53 per barrel. U.S. WTI rose 79 cents, or 1.1%, to $75.37 per barrel.

Rising crude prices benefit upstream producers such as Oil India. Higher prices increase revenue per barrel and may support higher capital expenditure on exploration.

Israeli and U.S. strikes targeted Iran on March 3, triggering retaliatory attacks by Iran on energy infrastructure, a region supplying nearly one-third of global oil production.

Iran also targeted tankers in the Strait of Hormuz. Shipping remains largely halted for four days. Iraq reduced output by 1.5 million barrels per day due to storage and export issues.

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Oil Stocks React to Middle East Tensions

ONGC

On March 4, 2026, Oil and Natural Gas Corporation Ltd opened at ₹287.10, up 1.65% from its previous close of ₹282.35. The stock reached a high of ₹288.30 (2.11%) and a low of ₹277.80 (-1.61%). By 12:48 PM, it traded at ₹277.80, down 1.61%, with a market cap of ₹3,49,480.16 crore.

BPCL

On March 4, 2026, Bharat Petroleum Corporation Ltd opened at ₹365.20, down 2.59% from its previous close of ₹374.85. The stock reached a high of ₹367.85 (-1.90%) and a low of ₹357.65 (-4.61%). By 12:50 PM, it traded at ₹358.80, down 4.28%, with a market cap of ₹1,55,772.74 crore.

HPCL

On March 4, 2026, Hindustan Petroleum Corporation Ltd opened at ₹415.95, down 1.96% from its previous close of ₹424.35. The stock reached a high of ₹416.35 (-1.87%) and a low of ₹400.90 (-5.48%). By 12:51 PM, it traded at ₹401.30, down 5.43%, with a market cap of ₹85,389.52 crore.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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