India’s oil producers and refiners face a volatile energy market. Disruptions in the Strait of Hormuz are causing crude oil prices to rise sharply. This situation is expected to persist, impacting earnings for companies like ONGC and Oil India. Oil marketing companies are absorbing losses. Reliance Industries also faces challenges. A quick return to pre-conflict prices is unlikely.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets