Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
The Reserve Bank of India (RBI) has projected a 6.9 per cent GDP growth for the current financial year, citing concerns over commodity prices and supply chain disruptions stemming from the West Asia crisis.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
Prime Minister Narendra Modi addressed Parliament on the West Asia crisis, advocating for dialogue and diplomacy, ensuring the safety of Indians in the region, and addressing concerns about fuel and food security.
Congress leader Rahul Gandhi on Monday launched a scathing attack on Prime Minister Narendra Modi over the latest fuel hike, saying mehangai manav has struck again and he has just one job of making promises during elections and attacking people's pockets at other times.
The Federation of Indian Export Organisations (FIEO) has appealed to the Reserve Bank of India (RBI) for liquidity support to Indian exporters, citing a significant increase in freight costs and extended payment cycles due to the ongoing West Asia conflict.
Prime Minister Narendra Modi convened a meeting with senior ministers to assess the impact of the evolving situation in West Asia on India's crude oil, gas, petroleum, power, and fertiliser sectors, focusing on ensuring uninterrupted supply and stable logistics.
Amid rising tensions in West Asia, China is urging all parties to cease military operations, following Trump's appeal for help in securing the Strait of Hormuz.
US President Donald Trump has threatened to target Iran's civilian energy infrastructure, including power plants, oil wells and Kharg Island, if Tehran does not reopen the Strait of Hormuz.
Iran has presented a multi-layered proposal to the US in an attempt to break the deadlock in peace talks, focusing on de-escalation and nuclear programme discussions.
The Americans can occupy Bab el Mandeb, claim to have 'solved' the Strait of Hormuz crisis, declare victory that President Trump so desperately needs, points out Colonel Anil A Athale, former head of the history division, ministry of defence.
Analysts are revising down India Inc's financial year 2026-27 (FY27) earnings growth forecasts, citing persistently high crude oil prices above $100 a barrel due to the West Asia conflict, which is expected to dent corporate financial performance in the coming quarters.
Petrol and diesel prices in India have been increased for the second time in a week, following a long freeze on revisions. The increase comes as global crude prices surge and state-run oil firms look to recoup losses.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
Indian oil marketing companies are incurring significant losses, selling petrol at a Rs 14 per litre loss and diesel at Rs 18 per litre, as elevated global crude oil prices, exacerbated by the West Asia crisis, outpace capped retail fuel rates, according to rating agency Icra.
This sharp Iranian response came after a series of uncompromising remarks from the US president.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
External Affairs Minister S Jaishankar discussed the West Asia conflict's impact on the global economy, particularly energy security, with US Secretary of State Marco Rubio. He also engaged with GCC ambassadors and his Sri Lankan and German counterparts on the same issue.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
Indian investors have seen their wealth erode by a staggering Rs 16.77 lakh crore over four trading sessions, as the markets faced deep losses driven by elevated crude oil prices, geopolitical tensions, persistent foreign fund outflows, and a record-low rupee.
Prime Minister Narendra Modi will review the impact of the West Asia conflict on India's food, energy, and fuel security with senior cabinet ministers. The meeting follows previous discussions and concerns raised about global energy crises and supply chain disruptions.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
India significantly increased piped natural gas (PNG) connections in March as the government accelerates the expansion of cleaner fuel networks amid global supply disruptions.
US President Donald Trump indicated the possibility of further military operations against Iran's Kharg Island, a key oil export hub, claiming previous strikes had significantly damaged its infrastructure.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
The Natanz nuclear facility is one of Iran's key nuclear installations and has previously been at the centre of international concerns over Tehran's nuclear programme.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
The intriguing bit is that Trump is likely to attend the talks in Islamabad this weekend -- if he does, it will be the clearest signal yet that the US is ready to exit the war with some sort of win to show, since he cannot afford to go for the talks and return empty-handed, notes Prem Panicker in his must read blog on the Iran War
Indian-flagged vessels are navigating the Strait of Hormuz safely despite ongoing tensions in the region, ensuring the continued flow of vital energy supplies to India.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
Admiral Alireza Tangsiri was accused of leading efforts to disrupt maritime trade, including actions affecting the Strait of Hormuz.
Indian realty developers are contemplating price increases for ongoing and upcoming projects to offset margin pressures caused by rising input costs and supply chain disruptions, exacerbated by the West Asia conflict. Input and labour costs have surged by 5-12%, directly impacting developer margins, especially for under-construction projects.
There are enough people at the top decision-making level in Tehran who are still willing to negotiate, provided Trump can create the right setting for the negotiation to acquire a dynamic of its own, points out Ambassador M K Bhadrakumar.
Asian Development Bank (ADB) on Friday warned that India's limited crude oil reserves of about 100 million barrels - sufficient for only 40-45 days of consumption - leave the country particularly vulnerable to supply disruptions through the Strait of Hormuz amid the ongoing war in West Asia.
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
Direct talks between the US and Iran, mediated by Pakistan, have failed to produce an agreement after 21 hours of negotiations, with disagreements over Iran's nuclear ambitions and sanctions proving insurmountable.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
Despite ongoing tensions in West Asia, the successful arrival of the LPG carrier 'Nanda Devi' in Gujarat ensures a steady supply of liquefied petroleum gas to India, highlighting the country's efforts to secure its energy needs.
