The ministry of petroleum and natural gas on Friday reiterated that India has sufficient stock of crude oil, petrol and diesel, while ensuring an uninterrupted supply of LNG and LPG despite disruptions caused by the ongoing West Asia conflict.
The Congress party has criticised the Indian government's diplomatic efforts, questioning how Pakistan was able to secure a role as a mediator between the US and Iran despite India's attempts to isolate it after the Pahalgam attack. The party also raised concerns about India's standing on the global stage and its relationship with the US and China.
US Secretary of State Marco Rubio will visit India for four days to strengthen bilateral relations, holding talks with Indian leaders and attending the Quad foreign ministers' meeting.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
Oil-marketing companies (OMCs) are set to significantly expand the sale of flex fuel (E85) across India, with plans to reach 5,000 outlets in major cities by the end of next year, according to Petroleum Minister Hardeep Singh Puri. This move aims to boost ethanol demand, reduce crude oil imports, and cut carbon emissions, coinciding with the launch of India's first flex-fuel vehicles by Maruti Suzuki and Hero MotoCorp.
Anna Muzychuk of Ukraine will replace Koneru Humpy in the Candidates Tournament in Cyprus after Humpy withdrew due to safety concerns related to the region's proximity to the West Asia conflict.
Indian stock market benchmark indices Sensex and Nifty experienced a significant decline, driven by escalating tensions in the Middle East and rising crude oil prices.
'Historically, India has depended on the Middle Eastern Gulf for nearly 90 per cent of its LPG imports. Shifting to alternative suppliers is not something that can happen quickly.'
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
A new report suggests China's maritime vulnerability lies in the Strait of Hormuz, not Malacca, creating strategic competition in the Indian Ocean.
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.
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.
Private bus operators in Sri Lanka warn of potential service disruptions and a nationwide strike due to significant fuel price increases, impacting public transport and raising concerns about inflation.
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.
koda Auto Volkswagen India aims to capture a 5 per cent share of India's passenger vehicle market by 2030, driven by new product launches, including alternate fuel vehicles, and a potential entry into the high-volume sub-4 metre SUV segment.
The embassy also said that the exit must be undertaken in coordination with the mission.
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
US Secretary of State Marco Rubio arrived in Kolkata for a four-day diplomatic tour to India, marking the first visit by a US secretary of state to the city in 14 years. His itinerary includes meetings with Indian officials, energy talks, and a Quad Foreign Ministers Meeting.
One Indian oil tanker successfully crossed the Strait of Hormuz, while others turned back after Iran signalled the waterway's closure, amidst rising tensions and disruptions to global energy flows.
Amul and Mother Dairy, India's largest dairy product retailers, have increased milk prices by Rs 2 per litre, marking the second such hike in 13 months. This move is expected to intensify inflationary pressures, already fuelled by global conflicts, and will impact household budgets across the country.
An IndiGo flight from Delhi to Manchester was forced to return to its origin due to last-minute airspace restrictions related to the ongoing situation in West Asia. The flight was using a leased Boeing 787 aircraft.
At least eight civilians have been reported killed, and 95 others have sustained injuries following United States-Israeli strikes, Iranian state media Press TV reported.
China has criticised the US blockade of the Strait of Hormuz, calling it a dangerous and irresponsible move, and urged Washington and Tehran to honour the ceasefire. Beijing also denied aiding Iran militarily and threatened countermeasures if the US imposes tariffs.
Crude oil prices experienced a sharp decline after US President Donald Trump announced a temporary halt to military strikes on Iran's energy infrastructure, easing geopolitical tensions and supply disruption fears.
Reliance Industries is expected to report largely flat performance for its fourth quarter (January-March, Q4) of FY26, with weakness in the oil-to-chemicals (O2C) business and muted retail growth likely to offset steady gains in the telecommunications segment.
India's manufacturing sector growth slowed to a four-year low in March, impacted by cost pressures, competition, market uncertainty, and the Middle East conflict, according to the HSBC India Manufacturing PMI.
Indian equity markets experienced a significant downturn, with the Sensex and Nifty plummeting due to rising crude oil prices, geopolitical tensions in West Asia, and continuous foreign fund outflows.
Congress leader Shashi Tharoor is urging the Indian government to take a more proactive role in mediating the escalating conflict between the US-Israel alliance and Iran, emphasising the impact on India's energy security and regional stability.
Expanding the scope of hostilities, Zayed Port in Abu Dhabi, United Arab Emirates, was also targeted by missile strikes launched by Iran, according to a report by the Iranian state broadcaster, Press TV.
Chinese President Xi Jinping warned US President Donald Trump that mishandling the Taiwan issue could trigger conflicts between the two countries during wide-ranging talks on trade, Iran, and energy security.
Reports indicate that Mojtaba Khamenei, the son of Iran's Supreme Leader and a potential successor, is reportedly unconscious and receiving medical treatment in Qom, according to intelligence assessments.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
Indian eateries are adapting to the LPG crisis by cutting menus, increasing prices, and switching to alternative fuels like coal, as LPG supplies are disrupted due to global events. State authorities are cracking down on hoarding and black marketing of LPG cylinders.
Addressing the 36th extraordinary session of the Council of the International Maritime Organisation (IMO) held on Thursday in London, the Indian envoy said, "India remains deeply concerned about the evolving situation and continues to call for de-escalation through dialogue and diplomacy, with utmost restraint and priority being given to the safety of civilians."
In a post on Truth Social, Trump outlined key goals of the campaign, including degrading Iran's missile capabilities, dismantling its defence industrial base, eliminating naval and air power, preventing Tehran from acquiring nuclear capability, and protecting United States allies such as Israel, Saudi Arabia and the United Arab Emirates.
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
The Indian government has revised its natural gas allocation priorities, placing LPG production alongside CNG and piped cooking gas at the top, due to disruptions in imported gas supplies caused by the conflict in West Asia.
Amidst the stalling of high-level peace talks between Tehran and Washington, Iran continues to endure severe digital isolation as the nationwide internet blackout reached its 44th day on Sunday.
