The Madhya Pradesh government has formed a committee to monitor gas and oil supplies amid concerns over the West Asia crisis, assuring citizens that there are adequate stocks and no need to panic. The government is also working to ensure the safe return of Indian citizens from Gulf countries.
Amidst the ongoing conflict in West Asia, the Oil Ministry assures citizens that India's LPG supply remains secure, with no need for panic booking of cylinders. The normal delivery cycle of two-and-a-half days is being maintained, and crude oil is being sourced from diverse routes.
India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
India will continue to purchase Russian oil based on commercial viability and energy security needs, irrespective of US sanctions waivers, according to a senior petroleum ministry official.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, mirroring weak global trends, as escalating tensions in West Asia, particularly a drone attack on the UAE's Barakah nuclear facility, pushed crude oil prices higher. Track Sensex, Nifty50 movement and key market drivers for May 18, 2026.
The Indian government has allocated an additional 40,000 kilolitres of kerosene to states as an alternative fuel to LPG, amid the ongoing crisis in West Asia. The government assures a comfortable crude oil supply situation in the country.
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.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
Amidst global energy market volatility driven by the West Asia crisis, Russia has proposed increasing its crude oil and natural gas supplies to India, strengthening bilateral energy ties and aiming for USD 100 billion in annual trade by 2030.
India possesses two months of fuel stockpiles and faces no supply concerns despite global energy disruptions, according to Oil Minister Hardeep Singh Puri. However, state-run fuel retailers are incurring losses of up to Rs 1 lakh crore in a single quarter due to elevated crude prices and unchanged retail fuel prices, raising questions about the sustainability of these losses.
A US-sanctioned tanker carrying Iranian crude oil is heading to India, marking the resumption of oil imports from Iran after seven years.
Crude oil prices surged over 3% in futures trade after US President Donald Trump expressed doubts about the Iran ceasefire, reigniting fears of supply disruptions from West Asia and pushing Brent crude above USD 107 per barrel.
Escalating geopolitical tensions in West Asia are beginning to disrupt India's automotive supply chain, leading to rising commodity prices, logistics bottlenecks, material shortages, and pressure on consumer demand, with two-wheeler makers already raising prices.
Live updates on the US-Israel-Iran war: Trump escalates threats, Iran retaliates, and oil prices surge as the Strait of Hormuz crisis disrupts global markets.
Replacing over a third of India's oil imports at competitive rates is going to be a challenge, said traders from State refiners, even though some progress was made in the last two months.
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
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.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
The International Energy Agency (IEA) has proposed immediate demand-side measures, including remote work, lower speed limits, and reduced air travel, to mitigate the impact of a global oil supply shock caused by Middle East disruptions.
Indian stock markets are set to be influenced by developments in US-Iran negotiations, crude oil prices, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
Analysts predict that the ongoing US-Iran conflict, fluctuations in crude oil prices, and foreign institutional investor (FII) flows will be the primary factors influencing Dalal Street this week, with inflation concerns adding to investor anxiety.
Delhi Police dismantled a counterfeit engine oil manufacturing unit in Ghazipur, arresting two individuals and seizing hundreds of litres of fake oil labelled as popular brands.
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.
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's largest private refiner, Reliance Industries Ltd, successfully navigated a volatile energy market in the last quarter of FY26 by diversifying crude sourcing and demonstrating operational agility, particularly in response to geopolitical disruptions and cost fluctuations.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
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.
Indian benchmark indices Sensex and Nifty experienced a significant slump in early trade, driven by a sharp surge in crude oil prices above USD 120 per barrel, weak global market trends, and continued foreign fund outflows.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
The United States has announced it will not renew sanctions exemptions for the purchase of Russian and Iranian oil, ending a 30-day waiver that allowed some countries, including India, to continue importing Russian oil despite sanctions related to the Ukraine war.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
Tensions escalate as Iranian forces attack a container ship in the Strait of Hormuz after Trump announced the ceasefire extension.
Reserve Bank of India (RBI) Governor Sanjay Malhotra stated that preventing second-round effects of supply shocks, where inflation expectations rise due to prolonged disruptions, is the primary role of monetary policy. He also defended the RBI's foreign exchange market interventions, asserting it did not commit to an 'indefensible peg'.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
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.
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