Reliance, ONGC, OIL, BPCL, IOCL, HPCL, GAIL Shares Crash: Why Oil & Gas Stocks Are Falling? 3 Reasons

At the top of the list are the failed peace talks between US-Iran. Second dagger is from a sharp surge in crude oil prices to above $105 per barrel. Then comes the imposing of a windfall tax on diesel for refiners. Heavyweight Reliance Industries plunged sharply by 3%, dragging both Sensex and Nifty steeply.

Apr 13, 2026 - 09:00
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Reliance, ONGC, OIL, BPCL, IOCL, HPCL, GAIL Shares Crash: Why Oil & Gas Stocks Are Falling? 3 Reasons
At the top of the list are the failed peace talks between US-Iran. Second dagger is from a sharp surge in crude oil prices to above $105 per barrel. Then comes the imposing of a windfall tax on diesel for refiners. Heavyweight Reliance Industries plunged sharply by 3%, dragging both Sensex and Nifty steeply.

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