'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
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.
Prime Minister Narendra Modi and US President Donald Trump discussed the West Asia crisis and the importance of keeping the Strait of Hormuz open and secure. They also reviewed progress in bilateral ties and anticipated upcoming deals in the energy sector.
Pakistan's Interior Minister Mohsin Naqvi has been in Tehran meeting with Iranian officials in an attempt to mediate and resolve the ongoing conflict between the US and Iran. This marks Naqvi's second visit in less than a week as Pakistan seeks to bridge the differences between the two nations and establish long-term stability in the region.
The Indian rupee depreciated by 32 paise to close at 92.83 against the US dollar, influenced by escalating global tensions, particularly the US-Iran conflict, and the deadline for the RBI's instructions to banks to curb overnight positions.
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.
US President Donald Trump said on Wednesday that Washington is considering a "joint venture" with Iran to secure the Strait of Hormuz, following his announcement of a two-week ceasefire.
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.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
The United States Central Command (CENTCOM) has confirmed the implementation of a naval blockade on Iranian ports, enforcing strict measures on vessels entering or departing, significantly escalating tensions between the two nations.
British Prime Minister Keir Starmer contacted US President Donald Trump to express his relief following a shooting incident near the White House Correspondents Dinner. The leaders also discussed the need to restore freedom of navigation in the Strait of Hormuz.
Indian equities on Dalal Street saw volatility as global market trends and oil price hike impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Apr 23, 2026.
Donald Trump's inconsistent statements and actions regarding the conflict with Iran have drawn criticism and confusion, raising questions about American credibility and the direction of US foreign policy.
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.
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.
The US and Iranian delegations left Pakistan after failing to reach an agreement in historic talks aimed at resolving the West Asia conflict and stabilising global energy markets.
Indian benchmark equity indices, Sensex and Nifty, snapped a three-day rally, tumbling nearly 1 per cent due to heavy selling in IT stocks, a jump in crude oil prices, foreign fund outflows, and fears of prolonged instability in West Asia.
US President Donald Trump has indefinitely extended the ceasefire with Iran at the request of Pakistan, aiming to allow Tehran's leadership time to form a unified proposal to end the seven-week war.
India's consumption stocks, which have outperformed the broader market, are now facing significant pressure due to a gradual rise in fuel prices and the potential for higher inflation. Analysts warn that companies may be forced to pass on increased input costs to consumers, potentially hurting demand across both staples and discretionary categories, with a looming threat of deficient monsoon rainfall further exacerbating inflationary concerns.
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.
Former US President Donald Trump claimed he stopped a war between India and Pakistan and expressed his desire to be remembered as a great peacemaker.
The vessels are carrying around 92,600 metric tonnes of LPG and have 33 and 27 Indian seafarers onboard, respectively. Visuals showed Pine Gas crossing the critical chokepoint.
Representative of Iran's Supreme Leader in India, Abdul Majid Hakeem Ilahi, expressed doubts about the United States' intentions regarding negotiations, citing conflicting actions and a desire to force Iran into accepting US demands.
'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 companies, however, are now paying a premium of $6-$7 a barrel for Russian oil, compared with discounts of $8-$10 a barrel before the start of the conflict.
A spokesperson for the Central Khatam al-Anbiya Headquarters said that Iran's armed forces are prepared to intensify their response if aggression continues.
Uncertainty surrounds the US-Iran talks as a two-week ceasefire approaches its end. Pakistan is attempting to mediate, but tensions remain high after a recent naval incident.
Facing escalating threats from the US, Iran is mobilizing its citizens to form 'human chains' around power plants as a defensive measure against potential airstrikes, raising concerns about international law and civilian safety.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
Indian equity markets experienced a significant decline in early trade, with the BSE Sensex and NSE Nifty dropping, as escalating geopolitical tensions in West Asia and a surge in global oil prices dampened investor sentiment. Track Sensex, Nifty50 movement and key market drivers for May 8, 2026.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
Gold and silver prices saw a significant decline in the national capital, with silver falling by Rs 7,800 to Rs 2.43 lakh per kilogram and gold by Rs 1,500 to Rs 1.54 lakh per 10 grams, as investors booked profits amid persistent doubts over the durability of the West Asia ceasefire.
Iranian Foreign Minister Abbas Araghchi visited Pakistan for the second time in three days amid uncertainty surrounding potential peace talks with the US. The visit follows discussions in Oman regarding regional security and efforts to resolve the Iran-US conflict.
Iranian foreign ministry spokesperson Esmaeil Baghaei said that the country has held no "direct" talks with the United States as of now and added that it has received messages through some mediators regarding the US' desire for negotiations.
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
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.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
According to the report, the Pentagon is deploying the USS Tripoli ARG, along with the 31st Marine Expeditionary Unit (MEU), part of its own strike group.
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.
