'In such a scenario, Iran could proclaim itself victor, rebuild, re-enforce its diminished regional proxies to further destabilise neighbouring nations and take control of the Persian Gulf and Strait of Hormuz.'
The Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
The IRGC had announced earlier that it was carrying out an intense wave of attacks on US and Israeli positons throughout the region since dawn, using missiles as well as drones.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
The 'rescue' operation occurred within kilometres of Iran's underground tunnel complex at Isfahan, assessed by the IAEA and US intelligence as holding a substantial portion of the country's 60 per cent enriched uranium stockpile. Retired senior US military officers have highlighted that the mission's footprint -- hundreds of special operators, multiple heavy-lift aircraft deep inside Iran -- appears outsized for recovering a single airman. Prem Panicker continues his must read blog on the Iran War.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
As the negotiations continued, the Iranian government said on social media that "talks between Iran and the US in Islamabad entered the expert-level stage as economic, military, legal, and nuclear committees joined in".
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
A French sailor's use of a fitness app has exposed the location of France's aircraft carrier in the Mediterranean, raising serious security concerns amid rising tensions in the West Asia region, a report from a French newspaper said.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
Qatar, India's largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike -- a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said.
Pakistan is set to host face-to-face talks between the United States and Iran, aiming to solidify a fragile ceasefire and prevent further conflict in West Asia. The discussions will focus on a long-term peace arrangement, including sanctions relief, regional security, and Iran's nuclear program.
The government has mandated that cooking gas LPG supply to households will be discontinued if consumers fail to switch to piped natural gas where such connectivity is available, under a new order aimed at accelerating gas network expansion and reducing reliance on a single fuel.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
Pakistan's Prime Minister Shehbaz Sharif has offered to host talks between the US and Iran to help resolve the ongoing conflict in the Middle East, following reports of Pakistan's involvement in backchannel diplomacy.
For weeks, the war skirted the edge of catastrophe without tipping over. Missiles flew, there was much destruction, commanders were assassinated, cities across the Gulf and even in Israel struggled to absorb the shock. But one line held: Energy infrastructure, the arteries of the global economy, remained largely untouched. That is no longer true. Prem Panicker continues his must read daily blog on the Gulf War.
Foreign brokerages have started to cut their year-end targets for the Nifty 50 index amid the ongoing West Asia conflict.
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
The Ministry of External Affairs informed a parliamentary committee that nearly 1,000 Indians remain in Iran amidst the West Asia conflict, and 23,000 students in the Gulf region missed CBSE exams due to the turmoil.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
Nobody takes Pakistan seriously and therefore Pakistan's sudden mediating with almost immediate results of a ceasefire seems more contrived than real, points out Vice Admiral Biswajit Dasgupta (retd).
As days turn into weeks and America loses more planes, as the destruction of trillions of dollars worth military assets piles up, and dead bodies of soldiers return in ever greater numbers in coffins, Trump will have to answer some very difficult questions to save his presidency, notes Ambassador M K Bhadrakumar.
A French soldier was killed while several others were injured in an attack in the Erbil region of Iraq, French President Emmanuel Macron confirmed. Macron, in a post on X, confirmed that Chief Warrant Officer Arnaud Frion of the 7th Battalion of Chasseurs Alpins lost his life in the attack.
Foreign investors pulled out Rs 21,000 crore (around $2.3 billion) from Indian equities over the last four trading sessions amid deteriorating global risk sentiment triggered by the West Asia crisis.
Pakistan's Prime Minister Shehbaz Sharif has offered to mediate between the US and Iran to de-escalate the ongoing conflict in West Asia, following a joint US-Israel attack on Iran. Sharif has been in contact with Saudi Arabia, the UAE, and other nations to promote dialogue and diplomacy.
Hegseth said the military campaign, code-named Operation Epic Fury, against Iran is "laser focused" and "decisive," with objectives set directly by the US administration remaining unchanged since the start of operations.
Foreign portfolio investors (FPIs) withdrew a substantial amount from Indian equities in the first half of March, driven by geopolitical tensions, rupee depreciation, and concerns about crude oil prices.
Benchmark Sensex tumbled 1,236 points or 1.5 per cent while Nifty closed near 25,450 on Thursday following an across-the-board sell-off amid escalating geopolitical tensions between the US and Iran.
'India should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
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