Finance Minister Nirmala Sitharaman announces increased domestic LPG production to offset import disruptions caused by Middle East tensions, alongside assurances of fertiliser availability and the clearing of UPA-era oil bonds.
Israel has for more than two decades and several US presidencies worked to draw the United States into a full-scale war with Iran. Having finally achieved that, the last thing it wants is Trump declaring victory and going home, as he is prone to do. Ali Larijani was the figure most capable of handing Trump a negotiated exit with something to show for it. Without Larijani, the road to an exit gets considerably narrower. Prem Panicker continues his must read daily blog on the Gulf War.
India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
Iran on Thursday spelled out three conditions to end the war with Israel and the United States, which entered its thirteenth day today. Taking to X, Iran's President Masoud Pezeshkian said he reaffirmed the country's commitment to peace during talks with leaders of Russia and Pakistan.
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 Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
On Saturday, it was reported that a drone strike had targeted the Fujairah Port in the UAE, triggering a fire.
Nobody takes Pakistan seriously and therefore Pakistan's sudden mediating with almost immediate results of a ceasefire seems more contrived than real, points out Vice Admiral Biswajit Dasgupta (retd).
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.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
The IRGC had announced earlier that it was carrying out an intense wave of attacks on US and Israeli positons throughout the region since dawn, using missiles as well as drones.
India continues to face LPG supply challenges for the third consecutive week due to disruptions caused by the West Asia conflict, though panic buying is showing signs of easing. The government is prioritising domestic household supplies and encouraging alternative fuel sources.
A French sailor's use of a fitness app has exposed the location of France's aircraft carrier in the Mediterranean, raising serious security concerns amid rising tensions in the West Asia region, a report from a French newspaper said.
The government has mandated that cooking gas LPG supply to households will be discontinued if consumers fail to switch to piped natural gas where such connectivity is available, under a new order aimed at accelerating gas network expansion and reducing reliance on a single fuel.
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
Pakistan's Prime Minister Shehbaz Sharif has offered to host talks between the US and Iran to help resolve the ongoing conflict in the Middle East, following reports of Pakistan's involvement in backchannel diplomacy.
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).
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
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.
Foreign brokerages have started to cut their year-end targets for the Nifty 50 index amid the ongoing West Asia conflict.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
Pakistan's Prime Minister Shehbaz Sharif has offered to mediate between the US and Iran to de-escalate the ongoing conflict in West Asia, following a joint US-Israel attack on Iran. Sharif has been in contact with Saudi Arabia, the UAE, and other nations to promote dialogue and diplomacy.
The Israel-Iran conflict has entered a 'decisive phase' after the United States bombed three major Iranian nuclear sites Sunday morning, feel strategic affairs experts with some of them arguing it was Washington, DC's 'responsibility' to not get involved in the military standoff.
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.
It may now be time to question the price India is paying for Israel's disregard of the serious undermining of India's energy security, asserts former foreign secretary Shyam Saran.
Qatar, India's largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike -- a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said.
Hegseth said the military campaign, code-named Operation Epic Fury, against Iran is "laser focused" and "decisive," with objectives set directly by the US administration remaining unchanged since the start of operations.
A French soldier was killed while several others were injured in an attack in the Erbil region of Iraq, French President Emmanuel Macron confirmed. Macron, in a post on X, confirmed that Chief Warrant Officer Arnaud Frion of the 7th Battalion of Chasseurs Alpins lost his life in the attack.
Foreign portfolio investors (FPIs) withdrew a substantial amount from Indian equities in the first half of March, driven by geopolitical tensions, rupee depreciation, and concerns about crude oil prices.
Foreign investors pulled out Rs 21,000 crore (around $2.3 billion) from Indian equities over the last four trading sessions amid deteriorating global risk sentiment triggered by the West Asia crisis.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
Two expatriate workers were killed after debris from a downed drone fell in an industrial area in the Sohar province of Oman.
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.
The modern war is about quality over quantity, points out Mihir S Sharma.
'India should understand that we are not going to make the same mistakes with India that we made with China 20 years ago.'
Amid the ongoing conflict in West Asia, Israeli Ambassador to India, Reuven Azar, stated that Israel is willing to cease hostilities if Iran changes its course, emphasising that Tel Aviv has consulted diplomatic channels, including the US and regional partners.
India restricts subsidised LPG connections for households with piped natural gas (PNG) to ensure equitable distribution and address global energy supply concerns, pushing for faster PNG adoption.
'After we were alerted about the war, none of us could sleep for the next two nights while sailing through those waters.'
Formula One has cancelled the Bahrain and Saudi Arabian Grands Prix scheduled for April due to escalating Middle East tensions, reducing the 2026 F1 calendar from 24 to 22 races.
