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.
Indian stock market benchmark indices Sensex and Nifty closed nearly one per cent higher, extending their winning streak for a second day. This rally was driven by softening crude oil prices, positive geopolitical developments, and significant buying in blue-chip IT stocks, despite a broader global tech sell-off.
Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
Morocco's impressive rise in global football is uniquely funded by its vast phosphate reserves, with the state-owned OCP Group investing heavily in national team development. This strategic investment, driven by a royal directive, supports training academies and infrastructure, contributing to the nation's recent successes like reaching the 2022 World Cup semi-finals and hosting the 2025 Africa Cup of Nations. The country's abundant phosphate resources provide a stable economic base for these ambitious sporting endeavours.
Israel will continue its offensive in South Lebanon aimed at neutralising the threat from Hezbollah, which is backed by Iran.
Indian benchmark indices Sensex and Nifty experienced volatility due to conflicting developments in West Asia, including reports of the Strait of Hormuz closure, which led to a rebound in crude oil prices and heightened investor concerns about supply disruptions and inflation.
United States President Donald Trump has issued a strong warning to Iran, asserting that any attempt to impede the transit of petroleum through the Strait of Hormuz would be met with massive military retaliation.
Far from it; the country's resistance to the US, its nuclear ambitions, and its pursuit of influence and proxies across the Middle East are driven by a constant search for independence and security. Thus, Iran will never capitulate. Trump will learn this home truth ultimately, and it is going to be a humbling personal experience that may even destroy his presidency, predicts Ambassador M K Bhadrakumar.
Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. The Iran and Israel conflict has escalated over the last few days. Iran first launched drone and rocket attacks on Israel, which retaliated by firing a missile. Crude oil prices have hovered around USD 90 per barrel since the conflict.
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.
Crude oil prices have surged to record highs due to escalating tensions between the US and Iran, raising concerns about supply disruptions and market volatility.
The United States and Iran, with regional mediators, are reportedly discussing a potential 45-day ceasefire to prevent further escalation of conflict, including strikes on Iranian infrastructure and retaliation against Gulf states' facilities.
Formerly Iran's second-largest oil customer, Indian financial institutions were forced to withhold crude oil payments following the 2018 US sanctions.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
The US Central Command (CENTCOM) confirmed striking the Guinea-Bissau-flagged oil tanker MT Jalveer, carrying 20 Indian seafarers, in the Gulf of Oman for allegedly violating the US blockade against Iran. This incident marks the third commercial vessel attacked by US forces in the region this week, with three Indian seafarers previously losing their lives in an attack on the MT Settebello.
In a significant diplomatic development, US and Iranian negotiators have reportedly reached a tentative 60-day memorandum of understanding (MoU) aimed at extending a fragile ceasefire and paving the way for formal talks regarding Iran's nuclear programme.
The Indian rupee weakened against the US dollar due to geopolitical tensions surrounding the Strait of Hormuz and ahead of the Reserve Bank of India's monetary policy review.
The United States Central Command (CENTCOM) has announced that American forces are maintaining a strict maritime restrictive operation in the region, continuing to enforce a blockade against Iranian ports.
'FPIs are unlikely to return unless there is equilibrium between valuation premium and earnings growth.'
Ahead of the expiry on Tuesday of the two-week ceasefire declared by US President Donald Trump in the conflict with Iran, US media outlets reported on Sunday that negotiators Steve Witkoff, special envoy for peace missions and Jared Kushner will head to Islamabad for talks with Iran.
'The US was well aware of the nationality of the seafarers on board the vessels. It was not hidden. The nationality of those aboard a merchant ship is known to all the ports.' 'So, why did US shoot a missile that resulted in the deaths of the Indian mariners?'
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
Iran on Monday formally rejected a US-proposed ceasefire deal amid the escalating conflict in West Asia, instead unveiling its own 10-point plan aimed at permanently ending the ongoing war, as reported by the Iranian state news agency Islamic Republic News Agency (IRNA).
Iran has lodged a formal complaint with the United Nations, accusing the US of engaging in 'piracy' following the seizure of Iranian vessels. The complaint was detailed in a letter sent by Iran's UN envoy to the UN Secretary-General and the Security Council.
Fuel prices have risen by about Rs 7.5 per litre since May 15, as global crude oil prices surged due to the ongoing conflict in West Asia and supply concerns around the Strait of Hormuz.
'Rather than deploying all their money at once, investors should invest gradually.' 'A staggered approach is the better strategy because volatility is likely to persist.'
Iranian President Masoud Pezeshkian has confirmed Tehran's participation in Pakistan-facilitated peace talks with the US in Islamabad, according to Prime Minister Shehbaz Sharif. This development follows a conditional ceasefire agreement and aims to address regional tensions.
A social media post by Shehbaz Sharif has triggered widespread debate after an apparent 'draft' message was mistakenly published on X and later edited.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Indian equity benchmark indices Sensex and Nifty tumbled over 1 per cent for the third consecutive day, driven by a sharp rally in crude oil prices, massive selling in IT stocks, and unabated foreign fund outflows amid ongoing geopolitical tensions in the Middle East.
Trump also brushed off criticism of his expletive-laden references to causing destruction in Iran if they failed to make a deal to end the war.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
Analysts predict that the ongoing US-Iran conflict, fluctuations in crude oil prices, and foreign institutional investor (FII) flows will be the primary factors influencing Dalal Street this week, with inflation concerns adding to investor anxiety.
An Indian-flagged crude oil tanker, Jag Laadki, safely sailed from the UAE's Fujairah port despite an attack on the terminal and is scheduled to reach India. The Indian government is working to ensure the safe passage of remaining Indian-flagged vessels in the region.
The United States and Iran could resume negotiations as early as next week in Islamabad, according to a report by The Wall Street Journal citing people familiar with the matter.
After the United States and Iran agreed to a two-week ceasefire and expressed hope for lasting peace, Pakistan took much of the credit for playing mediator between the two countries. However, Jonathan Schanzer, Executive Director at the Foundation for Defence of Democracies and former US Treasury counterterrorism analyst, said Pakistan is deeply indebted to China.
A potential agreement between the United States and Iran, including a comprehensive ceasefire and gradual lifting of US sanctions, may be announced soon, according to reports. The agreement aims to de-escalate tensions and establish a framework for resolving disputes.
Iran's Supreme Leader Ayatollah Ali Khamenei claims a new chapter is emerging in the Persian Gulf due to the 'shameful failure' of the United States in the region, citing shifting regional dynamics and weakening foreign influence.
A source familiar with US Treasury Secretary Scott Bessent's thinking revealed on Saturday that the department "intends to utilise all available authorities to make Iranian assets accessible for rebuilding and repair efforts related to any future damage inflicted by Iran."
Iran has blamed the US for disruptions in oil and gas shipping through the Strait of Hormuz, citing 'destabilising actions' as the cause amid the ongoing West Asia conflict and rising energy prices.
