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.
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.
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.
Iran on Thursday spelled out three conditions to end the war with Israel and the United States, which entered its thirteenth day today. Taking to X, Iran's President Masoud Pezeshkian said he reaffirmed the country's commitment to peace during talks with leaders of Russia and Pakistan.
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.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
It may now be time to question the price India is paying for Israel's disregard of the serious undermining of India's energy security, asserts former foreign secretary Shyam Saran.
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.
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.
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.
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).
Foreign brokerages have started to cut their year-end targets for the Nifty 50 index amid the ongoing West Asia conflict.
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.
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.
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.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
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.
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.
The modern war is about quality over quantity, points out Mihir S Sharma.
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.
Two expatriate workers were killed after debris from a downed drone fell in an industrial area in the Sohar province of Oman.
The Israeli Air Force (IAF) said it struck several targets in Tehran, Shiraz and Ahvaz simultaneously over the past 24 hours, targeting sites linked to Iran's ballistic missile programme, air defence systems and military headquarters.
Amid the ongoing conflict in West Asia, Israeli Ambassador to India, Reuven Azar, stated that Israel is willing to cease hostilities if Iran changes its course, emphasising that Tel Aviv has consulted diplomatic channels, including the US and regional partners.
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.
'After we were alerted about the war, none of us could sleep for the next two nights while sailing through those waters.'
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
India's merchandise exports experienced a slight decrease in February, while imports surged due to increased gold and silver purchases, leading to a widened trade deficit. The West Asia crisis is expected to further impact trade in the coming months.
Formula One has cancelled the Bahrain and Saudi Arabian Grands Prix scheduled for April due to escalating Middle East tensions, reducing the 2026 F1 calendar from 24 to 22 races.
'We are getting used to the constant alerts to take shelter, listening to sonic booms from jets flying above us, hearing news of neighbouring ports being targeted, and being the only ship in the terminal.'
'India should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
Households should moderate large discretionary expenses for the time being.
'They should prioritise essential spending. They should maintain an emergency fund covering 6 to 12 months of expenses.'
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
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.
Sensex and Nifty post steepest weekly loss in over a year, falling nearly 3 per cent.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
While investors would focus on the results and guidance for the third quarter of financial year 2025-26 (Q3FY26) in the normal course of business, the US-Israeli attack on Iran and the latter's retaliation at Gulf allies of the US has forced them to weigh the consequences of the event.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances