Shares of Reliance Industries rose nearly 3% as global crude oil prices increased following tensions in West Asia. Higher oil prices are expected to improve refining margins for the company, which runs one of the world’s largest refining complexes at Jamnagar in Gujarat.
It is cited vy experts that stronger fuel prices, especially for diesel and other refined products, could support the company’s oil-to-chemicals business. Supply concerns linked to the Iran conflict have pushed crude prices higher, improving sentiment for refinery companies. As a result, investors showed increased interest in Reliance stock, expecting stronger earnings if oil prices remain elevated.