For weeks, the war skirted the edge of catastrophe without tipping over. Missiles flew, there was much destruction, commanders were assassinated, cities across the Gulf and even in Israel struggled to absorb the shock. But one line held: Energy infrastructure, the arteries of the global economy, remained largely untouched. That is no longer true. Prem Panicker continues his must read daily blog on the Gulf War.
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.
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.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
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.
Israel and the United States had a plan. Iran punched back. And now the Gulf is reeling, the world is beginning to feel the pain and, as on date, no one in Washington or Tel Aviv appears willing to admit that the punch has landed, notes Prem Panicker, continuing his must-read blog on the war in the Middle East.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
US President Donald Trump and Russian President Vladimir Putin discussed the Iran conflict and its impact on global energy supplies during a phone call.
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
The Ministry of External Affairs (MEA) has confirmed the deaths of six Indian nationals and one missing person amidst the escalating conflict in West Asia, detailing ongoing efforts for repatriation and diplomatic engagement.
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
Analysts predict a surge in gold and silver prices as investors seek safe-haven assets due to escalating tensions in the Middle East. The impact on domestic prices will depend on the conflict's duration, with geopolitical factors and macroeconomic data also playing a role.
United States President Donald Trump has said that Iran is under close watch and a 'massive fleet' is heading towards the Gulf region.
Sujeet scares Paris Olympics silver winner Rahman before losing in quarterfinal
Indian billionaire Gautam Adani-led group's Haifa port in Israel was unharmed by the Iranian ballistic missile attack, with cargo operations progressing unhampered, sources said. Late on Saturday night, Iran targeted Israel's Haifa port and a nearby oil refinery in response to Tel Avi's attack on Iranian nuclear and other targets earlier this week.
The Indian Navy is keeping a close eye on Iranian merchant vessel MV Assa, anchored for over a month off the coast of Kerala.
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.
The Indian nationals sanctioned include Varun Pula, who owns Marshall Islands-based Bertha Shipping Inc., which owns and operates Comoros-flagged vessel PAMIR.
The Iranian government has said that the explosion was likely related to chemicals being stored.
Chinese Foreign Minister Wang Yi stated that China mediated tensions between India and Pakistan, a claim disputed by India which maintains that the matter was resolved bilaterally.
The United States has imposed sanctions on at least half a dozen Indian companies accused of trading in Iranian petroleum and petrochemicals as part of broader action targeting 20 entities worldwide.
Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are "baseless and mischievous".
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.
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.
A joint operation by anti-narcotics agencies led to the seizure of about 700 kg of drugs and the arrest of eight Iranian nationals from Indian territorial waters off the Gujarat coast around Porbandar on Friday.
Ports, Shipping and Waterways Minister Sarbananda Sonowal made the request during a meeting with Iranian Foreign Minister Hossein Amir-Abdollahian in Tehran on Monday.
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.
At the airport, Joseph was received by the regional passport officer.
Sources are in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi.
Official sources in India said it is in touch with Iran to secure the release of 17 Indians.
The Indian Embassy, while sharing details of their release, thanked the Iranian authorities for their close coordination with the Embassy and Indian Consulate in Bandar Abbas.
The MSC Aries was last seen on Friday, sailing towards the Strait of Hormuz off the coast of Dubai, according to The Times of Israel.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
External Affairs Minister S Jaishankar on Monday held wide ranging discussions with Iranian counterpart Hossein Amirabdollahian in Tehran and their discussion focused on the long term framework for India's involvement with the strategically vital Chabahar port and the North-South connectivity project.
The Indian Navy rescued an Iranian-flagged fishing vessel with 19 Pakistani crew members and a Sri Lankan trawler in two swift operations after armed pirates hijacked the boats in the Arabian Sea amid deteriorating security situation arising out of Iran-backed Houthi rebels targeting various cargo ships in the region.
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.
Brent crude oil prices can touch $150 a barrel (bbl) - up a whopping 103 per cent from the current levels - in the worst-case scenario if the Israel-Iran geopolitical tensions escalate, suggest analysts.
Navy officials on Monday said that the swift response by the Indian Navy's mission deployed warship INS Sumitra ensured the safe release of the hijacked vessel and its crew.
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.
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