Iranian officials allege a US airstrike on Mashhad airport damaged a Mahan Air plane set to collect vital medical aid from India.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
Analysts say long-term investors may still benefit, but recommend limiting bullion exposure to around 10 per cent.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
The Indian rupee depreciated by 52 paise to settle at 93.35 against the US dollar, driven by failed US-Iran peace talks, surging crude oil prices due to a potential US blockade of Iranian ports, and a global flight to the greenback. This geopolitical uncertainty is also leading to foreign capital withdrawal from domestic equities.
US Vice President JD Vance leads a delegation to Islamabad for talks with Iran, expressing optimism while warning against bad faith negotiations from Tehran.
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.
Iran has formally appealed to the United Nations Security Council and the UN Secretary-General, accusing the United States of inciting violence, interfering in Iran's internal affairs, and threatening military action, according to an official letter circulated by Iran's Permanent Mission to the UN.
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
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.
The opposition party reiterated the absolute essentiality of immediate diplomacy and dialogue with Iran.
The Indian government has increased the export duty, or windfall tax, on diesel to Rs 55.5 per litre and on aviation fuel (ATF) to Rs 42 a litre, effective immediately, to boost domestic availability and prevent exporters from exploiting global price differences.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
President Trump asserts the US military has decimated Iran's forces and no longer requires assistance from NATO allies to secure the Strait of Hormuz, despite earlier requests for support.
External Affairs Minister S Jaishankar stated that India has demonstrated resilience in the face of recent global shocks, including the conflict in West Asia, while speaking at the convocation ceremony of IIM Raipur. He emphasised the importance of building national capabilities to de-risk and develop leverage in a changing global order.
Analysts predict that the ongoing conflict in West Asia, crude oil prices, and global trends will significantly influence the Indian stock market in the upcoming holiday-shortened week. Foreign investor activity and rupee movement will also be crucial.
The Iran conflict led to a sharp correction in Reliance Industries Ltd's (RIL's) share price, which has been partially reversed by a rebound.
Indian restaurants are grappling with a severe LPG shortage due to the West Asia conflict, forcing them to innovate with menus and cooking methods or face potential closures, impacting the food industry and consumers across the country.
The targeted eastern area is of immense strategic importance, as it is where the "majority of the country's oil resources are located."
He also warned the Gulf countries, which are allowing the US to launch an attack from their soil, vowing to "punish" the regional partners.
The US attack on the Iranian nuclear facilities has triggered fears of a wider regional conflict, with many leading countries and blocs calling for restraint.
US President Donald Trump is considering ending the military operation against Iran even if the Strait of Hormuz remains closed, according to the Wall Street Journal.
United States President Donald Trump on Friday signalled the US intention of going all out in its campaign against Iran's Islamic regime, warning Iran to watch out for what would happen today and saying that the US was winning the conflict despite what reports claimed.
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.
US President Donald Trump will travel to China in May for a rescheduled summit with Chinese President Xi Jinping, following a postponement due to the war in Iran. The White House has announced the new dates and indicated a reciprocal visit to Washington DC is planned.
Mirabai Chanu will miss the Asian Championships due to a shoulder injury sustained during the National Championships. Komal Kohar is expected to replace her in the Indian team.
The UAE consulate in Erbil, located in Iraq's Kurdish region, suffered structural damage in the aerial attack. Officials said there were no casualties.
In response to Prime Minister Narendra Modi's call for austerity, political leaders are reducing convoys and promoting public transport to conserve fuel.
The canteen at the Sports Authority of India's headquarters in Delhi has suspended operations due to a vendor complaint about LPG supply shortages, though sources suggest pricing disputes are also a factor. This closure primarily affects staff, as athletes' meals are provided separately.
On Monday, March 9, Mojtaba Khamenei was appointed Iran's new supreme leader, succeeding his father Ayatollah Ali Khamenei.
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.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
'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.
US President Donald Trump has claimed that a significant number of Iranian military officials were killed during a "massive strike" conducted in Tehran.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
The decision marks a significant leadership transition as the administration seeks a commander who 'will implement Donald Trump and Hegseth's vision for the Army'.
'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.'
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
'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.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances