Aviation stocks experienced a significant surge following the announcement of a two-week ceasefire between the US and Iran, which led to a sharp decline in crude oil prices. This development has positively impacted stock markets and the broader economic outlook for India.
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.
The logic of war plus the gathering storms in US politics as the midterms loom large leave him with no real alternative but to negotiate, points out Ambassador M K Bhadrakumar.
For India, much is at stake: Crucial energy supplies traversing the Strait of Hormuz, the fate of its 10 million citizens living and working in West Asia -- who send generous remittances home -- and its major trade links with the region.
Trump has said he would be present at the signing ceremony in Islamabad. Don't be surprised if the Pakistani hosts make it a grand event in the geopolitics of the region. Trump would love that, notes Ambassador M K Bhadrakumar.
Global energy markets saw a significant correction as oil prices nosedived following Iran's announcement that the Strait of Hormuz has been fully reopened, dismantling the 'war-risk' premium that had gripped the market.
His remarks come after Trump warned Iran of severe consequences if it fails to reopen the strategically vital Strait of Hormuz, a key global energy transit route.
Taking Kharg would give the US control over virtually all of Iran's oil exports and thus provide significant leverage, notes Prem Panicker in his must read daily blog on the Gulf War. It would also put American troops within range of Iran's remaining missiles, drones, and artillery on a piece of real estate that is just eight square miles in size, and just 15 miles from the Iranian mainland.
A projectile struck near Iran's Bushehr Nuclear Power Plant, resulting in one security personnel casualty and damage to an auxiliary building. The incident has raised concerns about nuclear safety and potential regional consequences, drawing criticism from Iranian officials and prompting calls for restraint from the IAEA.
FIFA President Gianni Infantino says the 2026 World Cup will proceed as scheduled despite uncertainty over Iran's participation due to security and geopolitical tensions.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
In a post on Truth Social, Trump said the decision followed a request from the Iranian government and added that talks between the two sides were 'going very well'.
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.
An Indian national was killed in a missile attack on Riyadh, bringing the total number of Indian fatalities in the West Asia conflict to six. The Indian embassy in Riyadh has expressed condolences and is providing assistance to the family.
Karnataka Chief Minister Siddaramaiah has assured the safety of Kannadigas residing in the Middle East amid escalating conflict, directing officials to take proactive measures and operationalize a dedicated helpline.
Ali Mousavi stated that such cooperation is essential for maintaining stability in the strategic waterway.
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.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
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.
Trump emphasised that diplomatic discussions remain ongoing. At the same time, he issued a stark warning, saying that failure to reach an agreement could trigger military action.
Democratic Progressive Azad Party chairman Ghulam Nabi Azad expressed deep concern over the escalating conflict in the Middle East, urging restraint and diplomacy from all parties involved.
Congress leader Shashi Tharoor discusses India's role in the US-Iran peace talks taking place in Islamabad, emphasising the importance of peace over competition with Pakistan and highlighting India's regional interests.
"The US President's statements are within the framework of efforts to reduce energy prices and gain time to implement his military plans," the ministry stated.
In a clear message to international observers, the strategic site was pointedly "described as "the tip of the iceberg" regarding the nation's hidden arsenal.
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.
Tensions between Washington, DC and Tehran have reached a boiling point, as a heavy barrage of aerial strikes was reported across multiple locations in Iran on Tuesday.
Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
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.
The Maharashtra government has launched an emergency WhatsApp helpline for state residents stranded in the Middle East due to airspace closures amid the US-Israel-Iran conflict. Chief Minister Devendra Fadnavis is monitoring the situation and coordinating with central agencies.
US President Donald Trump hinted at the possibility of the US seizing Iran's key oil export hub on Kharg Island, suggesting it could be done with minimal resistance. He also expressed his desire to take Iran's oil resources, while indicating potential negotiations and a possible deal with Iran.
As the security situation continues to evolve in West Asia and the Gulf region, an Iranian military source has warned the United States against any ground aggression on Iran, calling it a red line and saying a 'surprise' would await US President Donald Trump, Tasnim News Agency reported on Saturday.
Iranian Foreign Minister Seyed Abbas Araghchi on Saturday criticised the United States over its stance on Russian oil, claiming Washington was now "begging" countries across the globe, including India, to purchase Russian crude.
It is time for India to step up and get Russia, China and Europe to agree to a joint appeal to all combatants. Time is of essence, tomorrow may be too late, asserts Colonel Anil A Athale, former head of the history division, ministry of defence.
16 days into the war, US forces were already running out of ground-attack missiles and Israel is about to expend its entire Arrow interceptor missiles by end March. To be sure, the Iranians are watching closely and that explains their defiant stance that 'Iran will end the war when it decides to do so and when its conditions are met', notes Ambassador M K Bhadrakumar.
The deployment could include infantry and armoured units, in addition to the 82nd Airborne Division, which is already stationed in the region.
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 incident came shortly after a spokesperson from Iran's military warned that Tehran could target ports and docks in the United Arab Emirates following recent United States strikes on Kharg Island, a key hub for Iran's oil exports.
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.
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