A Financial Times report reveals Pakistan's crucial role in brokering a temporary ceasefire between the US and Iran, driven by White House concerns over rising oil prices and Iran's resilience.
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.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
Iranian President Masoud Pezeshkian stated that Iran is considering various paths to address regional tensions, including negotiations conducted with dignity and authority, while emphasising that military gains should be reinforced through diplomacy.
Pakistan's Foreign Minister Ishaq Dar met with his counterparts from Egypt and Turkiye in Islamabad ahead of a quadrilateral summit, including Saudi Arabia, to discuss the ongoing conflict in West Asia and explore avenues for peace.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
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.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
Two young swimmers from Thane, Vanshika Girish Iyer and Swaraj Sneha Gaurav Phadnis, have successfully completed a 21-kilometre open water swim in the Arabian Sea, setting a new record for the route.
US President Donald Trump met with Chinese President Xi Jinping in Beijing to discuss trade, technology, Taiwan, and the Iran war. Xi Jinping said that 2026 will be a 'historic, landmark year' for China-US relations.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
The UK Maritime Trade Operations issued a warning noting that the incident took place approximately 15 nautical miles north of Sharjah.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
'Iran cannot trust the USA because it considers the USA to be Israel-controlled. And no, the IRGC is not going to accept anything else but major US concessions.'
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
Iran blames the US for 'maximalism' and 'shifting goalposts' leading to the collapse of the Islamabad talks.
US President Donald Trump on Friday referred to the Strait of Hormuz as a potential "gusher" for the world and spoken about "opening it for the world."
India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
Amidst the ongoing conflict in West Asia, the Oil Ministry assures citizens that India's LPG supply remains secure, with no need for panic booking of cylinders. The normal delivery cycle of two-and-a-half days is being maintained, and crude oil is being sourced from diverse routes.
Top commanders of the Indian Navy will discuss the implications of the West Asia crisis on India's energy security and review operational readiness at a three-day conference.
US President Donald Trump expressed confidence in America's position amid US-Iran peace talks in Islamabad, stating that Washington stands to 'win' regardless of a deal.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
Petrol and diesel prices in India have been increased by Rs 3 per litre each, marking the first rate hike in over four years. This decision follows a period of stable prices during recent state elections, despite rising global crude oil prices and significant losses for fuel retailers.
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.
By all available indications, the White House drafted a face-saving note and handed it, ready-made, to Islamabad. Pakistani Prime Minister Shehbaz Sharif was supposed to then post it in the guise of a plea urging Trump to extend the deadline by two weeks 'to allow diplomacy to run its course'. Trump would then graciously accept Pakistan's 'request' and declare a ceasefire. Sharif dutifully posted the message on X. Except that he, or whoever was handling the account, forgot to delete the tell-tale first line visible in the edit history: 'Draft - Pakistan's PM Message on X'. Prem Panicker's must read blog on the Iran War.
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.
Trump seems to have estimated that Ghalibaf is a pragmatic politician who is receptive to close relations with the US and is enthusiastic about fostering business and economic ties in particular, points out Ambassador M K Bhadrakumar.
The government is identifying households with both liquefied petroleum gas (LPG) and piped natural gas (PNG) connections to enforce a ban on dual ownership, aiming to curb misuse and better target subsidies amid global energy supply disruptions.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian, condemning attacks on critical infrastructure in West Asia and emphasising the importance of safeguarding freedom of navigation and ensuring secure shipping lanes.
Argentina has significantly increased its LPG exports to India to help mitigate shortages caused by the ongoing conflict in West Asia. This partnership is becoming increasingly important for India's energy security.
India is sending a shipment of diesel and petrol to Sri Lanka to help alleviate the country's energy crisis amidst regional instability.
Petrol and diesel prices have been increased by Rs 3 per litre each, marking the first hike in over four years, as state-run fuel retailers pass on some of the impact from surging global crude prices, which have been exacerbated by the Iran war.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
Although extensive air attacks have been carried out to destroy most of Iran's defence capabilities, the latter's resilience and sustenance during the war clearly indicate that the US landing force would encounter severe resistance in the operation, explains Commodore Venugopal Vengalil (retd).
Israel wishes to continue its bombing campaign until Iran's military and industrial infrastructure are degraded to a point where it ceases to pose a threat to Israel. Iran, for its part, has learnt from its experience in the 12-day war of last June. Any ceasefire, it believes, will only be a prelude to another attack on itself. It is determined to convey that any attack on Iran will impose heavy costs on Israel, the US, America's allies in the Gulf -- and on the world at large, points out T T Ram Mohan.
The intriguing bit is that Trump is likely to attend the talks in Islamabad this weekend -- if he does, it will be the clearest signal yet that the US is ready to exit the war with some sort of win to show, since he cannot afford to go for the talks and return empty-handed, notes Prem Panicker in his must read blog on the Iran War
'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.'
'What we have yet to see on either the US or the Iranian side is willingness to compromise on their ultimate demands and the flexibility to reach an agreement to end the war.
