Markets

Brent at $100? Why India could be hit hardest by the US–Iran war; ONGC, Oil India to benefit

March 2, 2026

The escalation of the conflict between the US, Israel, and Iran has sparked significant volatility in global markets, particularly affecting oil prices and Indian equities. Crude oil prices surged over 7%, raising concerns about supply disruptions, while the Indian stock market saw a sharp decline with the Sensex plummeting nearly 2%. This situation has also influenced bond yields and the value of the Indian rupee.

Brent at $100? Why India could be hit hardest by the US–Iran war; ONGC, Oil India to benefit

Credit: Livemint

Key Highlights

Crude oil prices jumped over 7% due to escalating tensions in the Middle East.
The BSE Sensex dropped 1,605.85 points, or 1.98%, amid market turmoil.
Indian bond yields rose, indicating a negative sentiment among investors.
The Indian rupee fell to a one-month low against the dollar.
JM Financial warned that India could be disproportionately affected by rising oil prices.

Business India

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Brent at $100? Why India could be hit hardest by the US–Iran war; ONGC, Oil India to benefit

Key Highlights

Sources

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