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Indian refiners tumble as crude surges on widening Iran war

A worker stands next to a machine at an Indian Oil fuel station in New Delhi, India, March 6, 2026. REUTERS/Bhawika Chhabra

March 9 (Reuters): Shares of Indian refiners slumped on Monday, as the widening U.S.-Israeli war with Iran propelled ​Brent crude prices toward $120 per barrel – a near four-year high – threatening their ‌near-term earnings. State-run Indian Oil (IOC.NS), dipped 6.6%, Hindustan Petroleum (HPCL.NS), slid 7.5% and Bharat Petroleum (BPCL.NS), dropped 7.1%, and were headed for their steepest falls in more than ​a year.Reliance Industries (RELI.NS), lost 2%. Brent crude soared as ​much as 26.4% to $117.16 a barrel and was ⁠last up 23% at $114.08 by 9:15 a.m. IST. UBS said ​oil marketing companies are “negatively leveraged” to the

Nepal’s vote count puts ex-rapper Balendra Shah’s party ahead in two-thirds of seats

KATHMANDU, March 6 (Reuters) – The party of Nepali rapper-turned-politician Balendra Shah was ahead ‌on Friday in more than two-thirds of seats where leads were available in general elections, outpacing rivals, including the former prime minister ousted in last year’s uprising. Shah, 35, the former mayor of Kathmandu, the capital, has dominated ​the race to become prime minister during the campaign, gaining near-rockstar like fame on ​social media across the Himalayan nation in the wake of the youth-led uprising. “I ⁠voted for Rastriya Swatantra Party because Balen is there,” said Deepak Adhikari, 33, after voting ​for Shah’s party in Kathmandu

Rupee ends 6 paise lower at 91.70 against USD in range-bound trade amid West Asia crisis

Mumbai, Mar 6 (PTI) The rupee stayed range-bound throughout the session on Friday and ended 6 paise lower at 91.70 (provisional) against the US dollar, resisting pressure from inflated crude oil prices and suspected RBI intervention. According to forex experts, heavy selling in domestic equities and withdrawal of foreign funds further dragged the rupee down. However, they said the depreciation was capped following the US administration’s decision to allow Indian refiners to purchase Russian oil for 30 days, a move to ease pressure on global energy flows amid the ongoing war in West Asia. Treasury Secretary Scott Bessent on Thursday

Sensex, Nifty dive over 1 pc on Middle East conflict, boiling crude oil prices

Mumbai, Mar 6 (PTI) Stock market benchmark indices Sensex and Nifty tumbled over 1 per cent on Friday after a day’s breather as the conflict in the Middle East entered its seventh day, driving crude oil prices higher. Weakness in the US equities, subdued trend in European markets and relentless foreign fund outflows also dampened sentiments. The 30-share BSE Sensex tumbled 1,097 points, or 1.37 per cent, to settle at 78,918.90. During the day, it sank 1,203.72 points, or 1.50 per cent, to 78,812.18. The 50-share NSE Nifty dropped 315.45 points, or 1.27 per cent, to end at 24,450.45. From

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