Donald Trump claims a senior defence official urged military action against Iran, revealing escalating tensions and ongoing negotiations in the Middle East.
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.
In a statement issued by Iran's consulate in Mumbai, it said, "At present, Iran essentially has no floating crude or surplus available for international markets. The US Treasury Secretary's remarks appear aimed at reassuring buyers and managing market sentiment."
The diplomatic intervention follows various media reports which attributed comments to Iranian lawmaker Alaeddin Boroujerdi, suggesting that merchant vessels were being charged USD 2 million for safe passage through the "conflict-hit Hormuz."
President Trump asserts the US military has decimated Iran's forces and no longer requires assistance from NATO allies to secure the Strait of Hormuz, despite earlier requests for support.
Despite President Trump's optimistic prediction of a swift resolution to the ongoing conflict with Iran, Tehran dismisses any possibility of diplomatic breakthroughs, citing deep distrust and highlighting the complexities of US-Iran relations.
The Indian government has reduced excise duty on petrol and diesel to mitigate the impact of rising global crude prices, triggered by geopolitical tensions in the Middle East. This move aims to provide relief to consumers and oil companies amidst volatile international oil markets.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
Modi said that the West Asia crisis has been going on now for more than three weeks and is having a very adverse impact on the global economy and on people's lives. He said the entire world is urging all parties for the earliest resolution of this crisis.
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.
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.
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 next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
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.
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.
The BJP's West Bengal unit chief, Samik Bhattacharya, has alleged that at least five farmers have died by suicide in the state since February due to a potato price crisis, accusing the TMC government of negligence.
German carmaker Audi plans to reassess and adjust its product launch strategy in India once the specific details of import duty reductions under the India-EU free trade agreement (FTA) become clear, according to Balbir Singh Dhillon, the brand's director in India.
India is preparing its athletes for the upcoming Asian Games by installing makeshift container housing units at SAI centres to familiarise them with the unique accommodation arrangements in Japan.
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.
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.
India's economy is projected to maintain growth above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth faces risks from geopolitical tensions, according to industry body Assocham.
Sri Lanka will repatriate the bodies of Iranian sailors killed on the IRIS Dena, which was reportedly sunk by a US submarine. The government is also addressing potential impacts on food security and fuel supplies due to the war situation.
Specifically, military experts are assessing if the 'Octopus' interceptor anti-drone system, produced in the UK to support Ukraine in countering Russian threats, could be repurposed to strengthen British protections against Iran's Shahed drones.
MEA spokesperson Randhir Jaiswal said the number of Indians exiting Iran through Armenia and Azerbaijan has increased since the previous update.
The Indian Defence Ministry has approved the procurement of weapons and military hardware worth Rs 2.38 crore, including S-400 missiles and medium transport aircraft, to bolster the Indian Air Force's capabilities.
The Indian government has convened an all-party meeting to discuss the ongoing crisis in West Asia, following Prime Minister Modi's address to Parliament on the situation and its potential impact on India.
Amid rising tensions, Iran threatens retaliation after the United States confirms sinking its warship, IRIS Dena, in international waters, escalating conflict in the region.
Ali Mousavi stated that such cooperation is essential for maintaining stability in the strategic waterway.
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.
India's handling of the Iran crisis reflects a growing strain between strategic autonomy and geopolitical alignment, observes Ambassador M K Bhadrakumar.
ICC CEO Sanjog Gupta discusses the globalisation of cricket, highlighting India's crucial role and the impressive performances of Associate nations in the T20 World Cup.
A court in Thane, Maharashtra, has denied bail to a junior service engineer accused of leaking sensitive information about warships and submarines to Pakistani nationals, citing the serious nature of the offence.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
The Indian government reports casualties among its seafarers due to the ongoing crisis in West Asia and outlines measures to ensure the safety and welfare of its maritime personnel.
Rudrankksh Patil secured a gold medal at the Asian Championship, with Arjun Babuta taking silver, highlighting India's strong performance in the men's 10m air rifle event. India also secured the team gold.
Amidst escalating tensions in West Asia, India strongly condemns the recent attacks on energy infrastructure, warning of further destabilisation to the already uncertain global energy market.
Bessent indicated that the U.S. is evaluating the status of Iranian oil as the current campaign progresses.
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.
A disruption in the supply of LPG cylinders caused by tensions in the Strait of Hormuz is impacting Indian kitchens, leading to restaurant closures, price hikes and a surge in demand for electric cooktops.
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