Mumbai/IBNS, Jan. 6 -- Shares of Reliance Industries Limited (RIL) fell sharply by nearly 5% in early trade on Tuesday, amid heightened volatility in global oil markets following the US strike on Venezuela, media reports said.

During intraday trade, losses deepened to 5.1%, with the share price touching a low of Rs. 1,497.05.

Meanwhile, Reliance Industries strongly dismissed reports claiming that three vessels carrying Russian crude oil were en route to its Jamnagar refinery.

RIL clarified that its Jamnagar refinery has not received any Russian crude cargo in the past three weeks and is not expecting any Russian oil deliveries in January.

"We are deeply pained that those claiming to be at the forefront of fair journalism chose to igno...