logo
MRPL shares fall over 2.5% as crude spikes after Israel's airstrike on Iran

MRPL shares fall over 2.5% as crude spikes after Israel's airstrike on Iran

Business Upturn2 days ago

By Aditya Bhagchandani Published on June 13, 2025, 09:48 IST
Shares of Mangalore Refinery and Petrochemicals Ltd (MRPL) dropped 2.64% to ₹139.01 in Friday's morning trade, down from the previous close of ₹142.78. The fall comes amid heightened geopolitical risk following Israel's preemptive strike on Iranian military and nuclear targets, which triggered a global rally in crude oil prices.
The spike in oil prices—Brent crossing $77 per barrel and WTI nearing $76—has increased the cost pressure on Indian refiners like MRPL. As an oil refining and marketing company, MRPL's margins are sensitive to fluctuations in global crude benchmarks and forex volatility.
With the Strait of Hormuz—a key chokepoint for nearly 20% of global oil supply—under potential threat, traders are factoring in further risk premium in crude contracts, leading to weakness in downstream energy stocks across emerging markets, including India.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Career Opportunities at MediagraphicsPR: Where Innovation Meets Impact
Career Opportunities at MediagraphicsPR: Where Innovation Meets Impact

Time Business News

time37 minutes ago

  • Time Business News

Career Opportunities at MediagraphicsPR: Where Innovation Meets Impact

The dynamic world of public relations, finding the right place to begin or elevate your career can be a game-changer. MediagraphicsPR, recognized as one of the Best Public Relation Services in India, isn't just a name—it's a legacy of creative storytelling, digital excellence, and brand elevation. From Fortune 500 brands to ambitious startups, MediagraphicsPR has become the go-to agency for brands seeking Trusted PR & Media Partnerships that deliver measurable results. But behind every successful campaign is a team of passionate professionals—and that's where you come in. At MediagraphicsPR, we believe in more than just creating noise. We create narratives that influence. As one of the fastest-growing PR firms in the country, we offer not only cutting-edge strategies for clients but also a culture of empowerment, growth, and innovation for our employees. Whether you're a creative thinker, strategic planner, media expert, or digital enthusiast, there's a place for you here. With our open work culture, mentorship-driven growth, and performance-based rewards, MediagraphicsPR stands out as an employer of choice in the PR and media industry. Career opportunities at MediagraphicsPR go far beyond job roles—they're about shaping the future of communications in India and beyond. Who Should Apply? If you're passionate about public relations, storytelling, influencer marketing, or integrated brand campaigns, you'll find MediagraphicsPR to be a perfect match. Ideal candidates are: Strategic thinkers with a media-savvy approach PR professionals who thrive in fast-paced environments Digital natives with a passion for online media and influencer engagement Individuals who value teamwork, creativity, and client success We welcome applicants from various educational and industry backgrounds. Freshers with exceptional writing skills and experienced professionals looking for a leadership challenge—everyone has a role here. Industry Credibility : As one of the Best Public Relation Services in India , we've built award-winning campaigns across sectors including tech, pharma, fashion, FMCG, and SaaS. : As one of the , we've built award-winning campaigns across sectors including tech, pharma, fashion, FMCG, and SaaS. Client Diversity : Work on projects for top-tier Indian and global brands across diverse sectors. : Work on projects for top-tier Indian and global brands across diverse sectors. Learning Culture : From internal workshops to industry conferences, we prioritize learning at every stage. : From internal workshops to industry conferences, we prioritize learning at every stage. Empowered Teams : We trust our teams to lead with creativity, strategy, and ownership. : We trust our teams to lead with creativity, strategy, and ownership. Hybrid Work Environment: Flexibility that respects your time, creativity, and productivity. Whether it's helping a startup get featured in Forbes or driving investor visibility for a tech unicorn, MediagraphicsPR's campaigns have tangible impact. As part of our team, you'll not only work on meaningful campaigns but also get the visibility and leadership opportunities that matter for your personal brand. Your growth is our mission. From content creators and media strategists to account managers and communication consultants, we're hiring across verticals. If you're looking for career opportunities at MediagraphicsPR, now is the time to take the next step. Our reputation isn't built on empty promises but on partnerships. MediagraphicsPR has nurtured some of the most trusted PR & media partnerships in the industry. We work closely with journalists, editors, influencers, and media houses to ensure our clients' stories reach the right audiences. When you join our team, you become part of a network that thrives on integrity, influence, and innovation. MediagraphicsPR is more than a workplace—it's where ambition meets purpose. Whether you're starting out or looking to accelerate your professional journey, the career opportunities at MediagraphicsPR offer a blend of creativity, challenge, and growth. Explore openings on our website or connect with us on LinkedIn. Your dream job in the PR industry might be one click away. TIME BUSINESS NEWS

Everyone should keep an eye on this Persian Gulf island
Everyone should keep an eye on this Persian Gulf island

Miami Herald

time10 hours ago

  • Miami Herald

Everyone should keep an eye on this Persian Gulf island

Kharg Island is a small island in the Persian Gulf. It lies 16 miles off the northwest coast of Iran. It's 451 miles from Tehran, Iran's capital - roughly the distance from Detroit to New York City. It is just five miles long, about 40% the size of New York's Manhattan Island. And 125 from Iran's border with Iraq. Don't miss the move: Subscribe to TheStreet's free daily newsletter It is also unique in the Persian Gulf. The island's limestone foundation allows it the luxury of fresh water reserves. Most importantly it also is the key port that exports Iranian crude oil. About 90% of Iran's oil exports flow through Kharg's terminal complex. And about a third of those exports go to China. Related: Stock Market Today: Attacks in Middle East Batter Stocks; Oil and Gold soar; Bitcoin Off Kharg could prove to be one of two key strategic places if the Israeli-Iran War (let's call it that for now) spins out of control. The other is the Strait of Hormuz, 21 miles wide at its narrowest, same as the English Channel. About a third of the world's liquified natural gas and 25% of its crude oil must pass through the strait to pass from the 615-mile Persian Gulf to reach buyers in Europe, Asia and elsewhere. Giant oil tankers with oil and natural gas from Iran, Iraq, Saudi Arabia, the United Arab Oman and Abu Dhabi, Qatar and Bahrain flow though the strait Iran is the northern side of the strait, Oman on the southern. For years, whenever there's a conflict involving Iran, there are fears the country might block the strait. The importance of Kharg and the Strait of Hormuz helps explain why crude oil prices shot up as much as 14% late Thursday on the very first reports of Israel's attack on Iranian military and nuclear facilities. Related: Tesla makes a desperate move as it continues to lose customers Ultimately, West Texas Intermediate, the benchmark U.S. crude closed Friday up 7% to $71.29, and Brent, the benchmark global crude, was up the same amount to $74.23. If the worst of the conflict scenarios come to pass - Kharg's terminals and the strait are shut down, all bets are off on oil prices and, by extension, natural gas and gasoline prices. Kharg's terminal were blown up during the Iraq-Iran War of 1980-1988. If it happened again, Reuters reported, some analysts were suggesting crude prices could top $120 a barrel or higher, which would send gasoline prices much higher, maybe up to the top U.S. average price of $5.22 a gallon in May 2022. Global economies would be disrupted, and inflation would almost certainly jump. AAA's daily U.S. average gasoline price was up a penny to $3.133 a gallon on Saturday. The price is up just 3.1% so far in 2025.U.S. oil and gas stocks jumped on the Israeli-Iran news Friday. The Energy Sector of the Standard & Poor's 500 Index was alone among the 11 sectors of the index to post a gain for the day. Related: Starbucks CEO admits the struggling chain made a major mistake The Energy Select Sector SPDR exchange-traded fund (XLE) , which matches the index's Energy Sector, was up 1.7%. Oil services giant Halliburton (HAL) was up 5.5%. APA Corp. (APA) , parent of oil-and-gas producer Apache, was up 5.3%. The S&P 500 was down 1.13%. The Dow Jones Industrial Average, down as many as 887 points in the afternoon, finished with a 700-point loss, or 1.8%, to 42,198. The major stock indexes - Dow, S&P 500, Nasdaq Composite, Nasdaq-100 and Russell 2000 - all finished lower on the week. More Economic Analysis: Hedge-fund manager sees U.S. becoming GreeceA critical industry is slamming the economyReports may show whether the economy is toughing out the tariffs That said, many analysts do not believe things will get that out of hand. Similar worries about Kharg and the Strait of Hormuz have generated similar worries and price projections. But, in a note on Friday, Amarpreet Singh, an analyst with Barclay's, said "cool heads have prevailed." Moreover, as Ian Bremmer, president of the Eurasia Group, a consulting firm that watches matters like these, thinks Iran has few cards to play in this conflict. Israeli intelligence capabilities are just too capable, he said on a podcast, and Iran's military capacity has been diminished substantially by the attacks this week. Still, attention must be paid. Most definitely. Related: Veteran fund manager issues dire stock market warning The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

Israel-Iran attacks and the 2 other things that drove the stock market this week
Israel-Iran attacks and the 2 other things that drove the stock market this week

CNBC

time16 hours ago

  • CNBC

Israel-Iran attacks and the 2 other things that drove the stock market this week

What was shaping up to be a relatively calm week quickly got volatile on Friday, following Israel's overnight strike on Iran. Here is a closer look at the three biggest themes that defined the market this week. 1. Geopolitics: The attack on Iranian nuclear infrastructure rippled through financial markets on Friday. U.S. stocks sold off on the increased tensions overseas. The S & P 500 and Nasdaq Composite tumbled 1.13% and 1.3% on Friday, respectively. Meanwhile, Brent crude futures and West Texas Intermediate crude futures added around 7% and 7.5%, respectively. Gold rose to a two-month high, as well, as investors see it as a safe haven from all the volatility. Prior to the attack, stock benchmark were on track to close the week in the positive. Instead, the S & P 500 and Nasdaq lost 0.4% and 0.6% over that stretch, snapping back-to-back weekly wining streaks. Despite a modest gain Friday, part of the safe-haven trade, the U.S. dollar index had a tough week. On Thursday, we wrote about how long-term fundamental investors should view the weaker dollar. Another big geopolitical event for investors was an announcement by U.S. and Chinese delegations that the two sides agreed on a trade-deal framework, particularly focused on rare-earth minerals. 2. Economic data: Investors received good news on the inflation front on Wednesday and Thursday. On Wednesday, the c onsumer price index, a measure of goods and services inflation across the U.S. economy, showed that core prices rose less that expected last month. The May producer price index , a gauge of wholesale inflation in the country, came in lower than expected Thursday, too. The labor market continued to show it was softening but not breaking. Weekly jobless claims for the week ending June 7 were unchanged, while continuing claims were still at multiyear highs. On the whole, the batch of economic data was encouraging as the rate of inflation subsides and unemployment remains low, providing the consumer with more buying power. 3. AI updates: It was also a week chock full of company specific news and events within the generative artificial intelligence race. AI remains one of the most important, if not the most important, drivers for financial markets. On Monday, we heard from Apple, when the company hosted its annual worldwide developer conference. Though expectations were about as muted as we've ever seen, the event still managed to disappoint due to the lack of AI updates. Meta Platforms, on the other hand, got investors excited this week when news broke that the company took a large investment in Scale AI and will bring the startup's CEO on board to help start a new "superintelligence" unit within the company with the goal of achieving artificial general intelligence. Early Wednesday morning, we heard from Nvidia CEO Jensen Huang, who spoke at the company's GTC event in Paris. While there weren't many new updates, Huang reaffirmed that there is still a lot more accelerated compute capacity that needs to be built out, highlighting demand from hyperscale customers and sovereign entities alike. Europe, he argued, is likely to 10 times its compute capacity over the next two years. Outside the portfolio, Oracle and Advanced Micro Devices made news on AI, too. Oracle stock jumped Thursday after reporting better-than-expected quarterly results the prior evening. Impressively, the stock soared again Friday, despite the broader market sell-off, en route to its best week since 2021 . BMO Capital also upgraded Oracle to a buy rating. Oracle CEO Safra Catz's comments on its cloud infrastructure business confirmed that there's growing demand for AI computing power. Indeed, Oracle said revenues from that business should surge 70% year over year in its fiscal 2026. Elsewhere, Advanced Micro Devices unveiled its new AI server chip for 2026 at a company event Thursday, part of its attempt to rival Nvidia's market-leading offering. AMD also announced that it's landed a new high-profile customer OpenAI, the startup behind ChatGPT and Club holding Microsoft's AI partner. The chip isn't expected to launch until 2026, though. (Jim Cramer's Charitable Trust is long AAPL, META, NVDA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store