Indian benchmark indices Sensex and Nifty experienced a decline in early trade, mirroring weak global market trends and persistent outflows from foreign institutional investors (FIIs), exacerbated by ongoing geopolitical uncertainties in West Asia.
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.
Trump's remarks marks one of the most direct rebukes yet from Washington to its allies over their refusal to support US-led military operations in Iran and over the energy crisis triggered by disruptions in the Persian Gulf.
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.
Or Iran may face the risk of losing its biggest client
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
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.
US President Donald Trump has rejected Iran's proposal to end the ongoing war, deeming it 'totally unacceptable'. This decision comes amid efforts to negotiate an end to hostilities that began on February 28 and have disrupted global oil supplies.
Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
Prime Minister Narendra Modi has offered India's support to bring peace to West Asia during talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan. Both countries signed agreements to strengthen strategic collaborations in energy and defence.
IRGC said vessels seeking to sail through the strategically critical Strait of Hormuz must obtain Iran's approval; otherwise, they could become targets of Iranian attacks.
'The US was well aware of the nationality of the seafarers on board the vessels. It was not hidden. The nationality of those aboard a merchant ship is known to all the ports.' 'So, why did US shoot a missile that resulted in the deaths of the Indian mariners?'
US President Donald Trump on Thursday said that he has directed the country's Navy to take decisive action against any vessels attempting to lay mines in the strategically vital Strait of Hormuz amid escalating tension over the virtual control of the waterway between Tehran and Washington.
US President Donald Trump indicated the possibility of further military operations against Iran's Kharg Island, a key oil export hub, claiming previous strikes had significantly damaged its infrastructure.
As tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, Iranian state media reported on Wednesday.
Indian benchmark equity indices, Sensex and Nifty, ended lower after a five-day rally, with the Sensex dropping 607 points and the Nifty falling to 24,013.10. The decline was primarily driven by heavy selling in IT firms following Accenture's trimmed revenue guidance and renewed geopolitical uncertainty, specifically the postponement of US-Iran negotiations.
Iran has blamed the US for disruptions in oil and gas shipping through the Strait of Hormuz, citing 'destabilising actions' as the cause amid the ongoing West Asia conflict and rising energy prices.
Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
The Trump administration has sanctioned entities and individuals from India involved in sales of Iran's petroleum and petroleum products, saying the funds from this trade support Tehran's regional terrorist proxies and procure weapons systems that are a direct threat to the US.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
Iranian forces fired upon three commercial vessels in the Strait of Hormuz, with one possibly headed for Gujarat, raising concerns about maritime security in the strategic waterway.
Donald Trump has dismissed the ceasefire with Iran as being on 'massive life support', signalling continued tensions between the US and Iran amid ongoing negotiations.
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.
Amidst escalating tensions in West Asia, India strongly condemns the recent attacks on energy infrastructure, warning of further destabilisation to the already uncertain global energy market.
An Indian-flagged LPG vessel successfully transited the Strait of Hormuz, reducing the number of Indian ships stranded in the Persian Gulf. India is in talks with Iran to ensure safe passage for its tankers, and Indian refiners continue to purchase crude oil and LPG from Iran despite regional tensions.
The US blockade on Iranian ports is aimed to curb Iranian energy exports, thereby crippling its economy to force Iran back to the negotiating table, points out Commodore Venugopal Menon (retd).
For that to happen America does not have to lose. It only has to do the right thing, asserts Aakar Patel.
India's fertiliser subsidy bill for the current financial year (FY27) is projected to increase by approximately 20% due to surging global prices, primarily driven by the West Asia crisis, a senior official confirmed. Despite this, retail prices for urea and di-ammonium phosphate (DAP) will remain unchanged, ensuring adequate supply for the kharif season.
Reliance Industries Ltd has consistently remained compliant with international sanctions and is expected to adhere to upcoming measures on Russian oil, analysts said, estimating that oil sourced from Russia contributes just 2.1 per cent to its consolidated EBITDA. Reliance operates the world's largest single location refining complex, with more than half of the capacity exclusively dedicated for exports.
'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.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
A senior Pakistani official has affirmed Pakistan's commitment to supporting Saudi Arabia, even before assistance is explicitly requested, amidst ongoing conflict in West Asia. This pledge underscores the close ties between the two nations and Pakistan's role in regional stability.
India's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data.
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
The ongoing conflict involving the United States, Israel, and Iran intensified sharply with attacks on critical energy infrastructure across the Gulf, even as US President Donald Trump said he had cautioned Israeli Prime Minister Benjamin Netanyahu against targeting Iran's key South Pars Gas Field.
Two more Indian-flagged LPG tankers have safely navigated the Strait of Hormuz, ensuring continued cooking gas supply to India amidst regional conflict. These tankers are expected to reach Indian shores soon, following the successful transit of previous vessels.
The chairman of maritime company Safesea Group has described the attack on the US-owned crude oil tanker Safesea Vishnu, which resulted in the death of an Indian crew member, as "deliberate and calculated". He emphasised the need for governments to ensure the safety of commercial shipping lanes and seafarers.
Israel wishes to continue its bombing campaign until Iran's military and industrial infrastructure are degraded to a point where it ceases to pose a threat to Israel. Iran, for its part, has learnt from its experience in the 12-day war of last June. Any ceasefire, it believes, will only be a prelude to another attack on itself. It is determined to convey that any attack on Iran will impose heavy costs on Israel, the US, America's allies in the Gulf -- and on the world at large, points out T T Ram Mohan.
