Reliance Industries Shares Plunge 4% as Global Crude Prices Surge Following Middle East Tensions

Reliance Industries loses ₹68,000 crore in market cap as shares slump 4% due to rising Brent crude prices and geopolitical threats in the Strait of Hormuz.

By: AXL Media

Published: Apr 6, 2026, 4:38 AM EDT

Source: Information for this report was sourced from Upstox

Significant Market Capitalization Erosion

Shares of Mukesh Ambani-led Reliance Industries (RIL) experienced a major setback on the National Stock Exchange (NSE) on Monday, April 6, 2026. The stock fell by as much as 3.72% to hit an intraday low of ₹1,300, while dropping 4.13% on the BSE to reach ₹1,295. This downward movement resulted in the company's market valuation plummeting by ₹67,662 crore, bringing its total market cap down to ₹17.59 lakh crore. This dip marks the most significant one-day loss for the conglomerate since January 6 of this year, significantly impacting the broader benchmark indices.

Crude Oil Volatility and Geopolitical Tensions

The primary catalyst for the slump was a sharp spike in global oil prices. Brent Crude futures for June delivery rose by 2.43%, surpassing the psychologically critical $110 level to reach $111.68 per barrel. As the operator of the world’s largest crude oil refining complex in Jamnagar, Reliance is highly sensitive to fluctuations in global energy markets. The current price surge is tied directly to the deteriorating diplomatic relations between the United States and Iran, specifically concerning threats to maritime security in the Persian Gulf.

The Strait of Hormuz Standoff

Market anxiety intensified following a social media post from US President Donald Trump, who issued a stark warning to Tehran. The President stated that Iran would face severe consequences if the Strait of Hormuz—a vital global chokepoint for oil shipments—remained blocked. Setting a deadline for Tuesday at 8:00 P.M. Eastern Time, the administration signaled potential military or economic escalation. According to reports from The Washington Post, the current blockade has already removed hundreds of millions of barrels of oil from the global economy, with JPMorgan specialists noting that Asian markets are the first to experience the resulting supply shortages.