Business news · Commodities · 07 Oct 2026
INUS Oil Gas & Consumable Fuels
Brent crude for December rose 0.9% to $101.50 a barrel on October 7 and US benchmark WTI 0.8% to $90.12. A tropical system in the Gulf of Mexico is strengthening on a path towards Louisiana and Mississippi and is forecast to become the first Atlantic hurricane of the season within two days. The offshore area in its path accounts for about 15% of US crude production and 5% of natural gas output, and six refineries run by Shell, Valero, Marathon, PBF Energy and Chevron could be disrupted. Fighting between Houthi forces and Yemen's government has intensified near the Bab al-Mandab Strait.
India imports most of its crude, so each dollar on Brent raises the import bill and the cost base of fuel retailers, airlines, paint and tyre makers, while refiners' margins move with the gap between crude and product prices. A Gulf Coast storm matters for that gap in particular: the region holds roughly half of US refining capacity, and outages there tighten petrol and diesel supply more than crude supply. US commercial crude stocks fell by about 2.09 million barrels in the latest week. For US readers the exposure is offshore producers and Gulf Coast refiners. The storm's track and strength are forecasts and the damage, if any, is not yet known.
Reported by Anadolu Agency — “Brent rises above $101 as storm, Houthi attacks fuel supply concerns” ↗ on 07 Oct 2026.
NSE stocks, from the last close on or before 07 Oct 2026 to the close on 15 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Oil Gas & Consumable Fuels | 19 | -0.8% | 6 of 19 | +0.3 pts |
| All tracked stocks | 804 | -1.1% | 298 of 804 | — |
Official series on 07 Oct 2026 or the last day before it, and the latest observation.
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