Business news · Commodities · 02 Oct 2026
IN Oil Gas & Consumable Fuels Services Chemicals
European Union countries agreed on Friday to release additional diesel from their stockpiles over a 20-day period, following a French proposal for Europe to release 50 million barrels of diesel and for International Energy Agency members to release 50 million barrels of crude. President Trump had asked for the releases and had earlier threatened a ban on US diesel exports. In the Reuters report carried by Kitco, Brent was down $1.80, or 1.76%, at $100.50 a barrel and WTI down $2.02 at $90.85; Brent lost about 2.8% over the week. Analysts quoted said the squeeze is in refined products, with Middle East crude flows recovering.
India imports most of its crude, so the price sets the input bill for the state fuel retailers and the under-recoveries they carry on petrol, diesel and LPG. The detail that matters here is diesel: Indian refiners that export diesel earn on the gap between diesel and crude, and a stock release aimed at diesel narrows that gap even if crude itself moves little. Airlines are exposed through jet fuel, which was raised Rs 16 a litre on October 1, and paint, tyre and chemical makers through crude-linked feedstock. One day's 2% move with Brent still near $100 is small against the rise of recent months, and a French ministry spokesperson was separately reported to have played the plan down.
Reported by Kitco News ↗ on 02 Oct 2026.
NSE stocks, from the last close on or before 02 Oct 2026 to the close on 15 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Oil Gas & Consumable Fuels | 19 | +0.3% | 11 of 19 | +0.9 pts |
| Services | 30 | +0.3% | 16 of 30 | +0.9 pts |
| Chemicals | 47 | -0.3% | 20 of 47 | +0.3 pts |
| All tracked stocks | 804 | -0.6% | 356 of 804 | — |
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