Hormuz standoff forces new focus on energy costs
A UN official warned that the Iran war and Strait of Hormuz standoff were rapidly lifting living costs across the Middle East. OI Charts data showed short build-ups in ONGC and Reliance futures on 30 Oct amid recent share declines.
after close2 sources ↓machine-written, see hownot a recommendation
- ONGC close
- ₹225.39
- On the day
- -0.18%
- Futures OI, short build-up
- +1.5%
- Put-call ratio
- 0.68
- Max pain
- ₹230.00
A senior UN official warned that the Iran war and the stand-off in the Strait of Hormuz had forced governments and households across the Middle East to adapt to a higher cost of living. Abdullah Al Dardari, UN Assistant Secretary General and director of the Regional Bureau for Arab States at the UN Development Programme, made the comments on the sidelines of the Manama Dialogue in Bahrain, according to The National on 31 Oct 2026.
The comments kept the energy and inflation channel in focus for equity traders. Hormuz is a critical route for global energy shipments, so prolonged disruption risk can raise freight, fuel and input costs even when no specific supply volume or crude price was provided in the report. Governments are also expected to balance reconstruction needs with pressure on household budgets, creating a wider macroeconomic concern for energy-intensive industries and transport-linked businesses. ⚡
OI Charts data showed the domestic market had not treated the report as an immediate single-stock catalyst. ONGC closed at ₹225.39 on 30 Oct, down 0.2%, while its futures open interest rose 1.5% in a short build-up. The stock had declined 2.0% over 20 sessions and remained near the lower end of its ₹218.53–₹307.50 52-week range. Its November futures options showed a put-call ratio of 0.68, with the largest call open interest at ₹230 and the largest put open interest at ₹220; max pain was ₹230.
Reliance closed at ₹1,165, down 0.2% on the same session, after falling 3.6% over five sessions and 2.7% over 20 sessions. OI Charts data showed futures open interest up 1.8%, also indicating a short build-up. Its put-call ratio was 0.66, with the largest call open interest at ₹1,200, the largest put open interest at ₹1,100 and max pain at ₹1,200.
Traders will watch developments around the Strait, confirmed changes in energy flows, official fuel-price actions and the next market session’s futures positioning. The ₹220–₹230 zone for ONGC and ₹1,100–₹1,200 for Reliance mark the main near-term options open-interest boundaries in the data, while the broader direction depends on whether the standoff escalates or shipping conditions stabilise.
Source: The National, 31 Oct 2026
Not investment advice. For informational purposes only.