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.
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).
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.
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.
Foreign brokerages have started to cut their year-end targets for the Nifty 50 index amid the ongoing West Asia conflict.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
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.
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.
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.
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.
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.
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 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.
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 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.
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.
'India should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
The modern war is about quality over quantity, points out Mihir S Sharma.
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.
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.
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.
'After we were alerted about the war, none of us could sleep for the next two nights while sailing through those waters.'
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.
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.
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.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
'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.'
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.'
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.
'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.'
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.
Amid escalating tensions, Iranian Deputy Foreign Minister Saeed Khatibzadeh declares Iran's unwavering commitment to a 'heroic nationalist defence' against perceived American and Israeli aggression, vowing to resist what he calls an 'invasion' to the very end.
Indian restaurants are grappling with a severe LPG shortage due to the West Asia conflict, forcing them to innovate with menus and cooking methods or face potential closures, impacting the food industry and consumers across the country.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
'The entire US ecosystem built over decades at the bases in the Gulf region, especially the UAE, costing trillions of dollars have been decimated, dealing a mortal blow to the US Central Command's war capability,' points out Ambassador M K Bhadrakumar.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
