Trump criticised Iran for attempting to use international waterways for leverage, stating that the United States had restrained itself only to allow space for negotiations.
The Congress party has criticised the Modi government over Pakistan's involvement in US-Iran peace talks, calling it a 'monumental setback' for India's diplomatic efforts.
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."
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 Ministry of External Affairs informed a parliamentary committee that nearly 1,000 Indians remain in Iran amidst the West Asia conflict, and 23,000 students in the Gulf region missed CBSE exams due to the turmoil.
The Ministry of External Affairs (MEA) has stated that India is closely monitoring developments in West Asia, addressing topics ranging from ceasefire efforts to maritime security and the safe return of Indian nationals. The MEA also addressed the UN Climate Change Conference and the delimitation bill.
US Secretary of War Pete Hegseth on Friday claimed that Iran's new supreme leader, Ayatollah Seyyed Mojtaba Hosseini Khamenei, is "wounded and likely disfigured" in strikes by the US on the country.
Indian benchmark equity indices, Sensex and Nifty, experienced a decline in early trade, ending a three-day rally, primarily due to heavy selling in IT stocks and concerns over prolonged instability in West Asia.
Gautam Adani emphasised the importance of energy security and digital infrastructure in shaping geopolitical power, urging India to develop sovereign capabilities across the AI value chain.
Silver prices rallied sharply by Rs 15,000 to hit a lifetime high of Rs 265,000 per kg in the national capital on Monday, and gold advanced to a fresh record of Rs 144,600 per 10 grams, mirroring strong gains in the global markets.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
Iran has not closed the Strait. It remains open; however, due to current conditions and circumstances, ships are unable to pass through the Hormuz. Otherwise, Iran never wanted the Strait to be closed or blocked, the supreme leader's representative said.
The US Embassy acknowledged the attack in a post on X, urging Americans to avoid the facility 'until further notice' and announcing that all appointments had been cancelled.
A senior Iranian legislator has suggested that Tehran could further escalate pressure on its adversaries by targeting the Bab el-Mandeb Strait, raising concerns about global supply chain vulnerabilities.
Reliance Industries' digital arm, Jio Platforms, may see its initial public offering (IPO) delayed to the second half of fiscal 2027, according to CreditSights. The delay is primarily attributed to ongoing geopolitical tensions in the Middle East, which could impact market conditions and investor sentiment.
While Trump has been examining the possibility of stationing ground forces in the Middle East, CBS News reported that he has yet to define the exact conditions under which he would approve their use.
The United States is facing growing discontent from its Gulf allies after several countries in the region complained that they were not given advance notice of the US-Israel strike on Iran that triggered widespread retaliatory attacks, according to media reports.
ICICI Bank reported a 9.28 per cent increase in its consolidated net profit to Rs 14,755 crore for the March quarter of FY26, primarily driven by a nearly 90 per cent reduction in provisioning. The bank's executive director, Sandeep Batra, noted strong asset growth but expressed caution regarding the geopolitical situation in West Asia.
India has condemned the escalating attacks on commercial shipping in West Asia, particularly after a Thai-flagged vessel en route to India's Kandla Port was targeted in the Strait of Hormuz. The attacks have disrupted global oil and gas supplies, impacting India's energy imports.
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.
India is yet to take a call on United States President Donald Trump's invitation to be part of the 'Board of Peace' that will work towards bringing lasting peace to Gaza and possibly resolve global conflicts, people familiar with the matter said on Wednesday.
Tensions escalate between Iran and the US following an attack on an Iranian commercial vessel in the Sea of Oman, with both sides trading accusations over maritime security and ceasefire violations.
Indian stock market benchmark indices Sensex and Nifty experienced a significant drop in early trade due to rising crude oil prices, bearish global market trends, and continuous foreign fund outflows.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
Chinese President Xi Jinping has called for the Strait of Hormuz to remain open for normal passage of ships, describing it as an 'international waterway' amid rising tensions between the US and Iran.
Indian carriers have cancelled over 10,000 flights since the onset of the West Asia conflict, as escalating tensions and airspace restrictions disrupted international operations, a senior government official said.
The Indian rupee saw a significant appreciation against the US dollar following President Trump's suspension of military strikes against Iran and the Reserve Bank of India's decision to maintain its key interest rate. Market sentiment was further buoyed by positive comments from the RBI regarding the health of the banking sector.
The report said ships must submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a designated corridor.
'Refiners may soon be forced to adjust operations, curtailing runs as product exports stall and directing output solely to domestic markets.'
Domestic LPG and commercial cylinder prices in India have seen a significant increase, driven by rising global energy costs linked to the conflict in West Asia. This marks the second price hike in less than a year, impacting households and businesses.
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.
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.
Pakistani Prime Minister Shehbaz Sharif has briefed Saudi Crown Prince Mohammad bin Salman on Pakistan's diplomatic efforts to de-escalate the situation in West Asia. This follows Pakistan's offer to host talks between the US and Iran to resolve the ongoing conflict.
According to Iranian state media, Islamic Republic of Iran Broadcasting (IRIB), the threat was articulated by Ebrahim Zolfaghari, spokesperson for Iran's Khatam al-Anbiya Central Headquarters.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
The Congress party has criticised Prime Minister Narendra Modi's diplomatic efforts following the ceasefire agreement between the US and Iran, facilitated in part by Pakistan. The party claims this development undermines Modi's strategy and exposes his perceived failures in foreign policy.
Prime Minister Narendra Modi addresses the Rajya Sabha, detailing India's strategies to navigate the global energy crisis sparked by the West Asia conflict, including securing diverse energy sources and expanding strategic oil reserves.
The International Cricket Council (ICC) has postponed its three-day meeting scheduled for March 25-27 in Doha, Qatar, due to the ongoing conflict involving the US, Israel, and Iran. The meeting has been rescheduled for next month at a location within the same continent.
