The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
US President Donald Trump's call to Prime Minister Narendra Modi signals a concerted effort to reset strained Washington-New Delhi ties, with a focus on 'big-ticket' energy and trade deals, including increased Indian imports of US LNG and LPG, and potential cooperation on small modular reactors.
The intriguing bit is that Trump is likely to attend the talks in Islamabad this weekend -- if he does, it will be the clearest signal yet that the US is ready to exit the war with some sort of win to show, since he cannot afford to go for the talks and return empty-handed, notes Prem Panicker in his must read blog on the Iran War
The UK Maritime Trade Operations issued a warning noting that the incident took place approximately 15 nautical miles north of Sharjah.
When missiles fly in this region, they are never just aimed at military targets.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
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.
A senior government official confirms that Indian vessels do not require permission to navigate the Strait of Hormuz, despite regional tensions. Several Indian ships, including LPG tankers, have safely crossed the strait, ensuring continued supply of essential commodities to India.
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.
Indian companies, however, are now paying a premium of $6-$7 a barrel for Russian oil, compared with discounts of $8-$10 a barrel before the start of the conflict.
'Neither do the Israelis. The two attacking parties have very little economic interest in Hormuz.'
'We are getting used to the constant alerts to take shelter, listening to sonic booms from jets flying above us, hearing news of neighbouring ports being targeted, and being the only ship in the terminal.'
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.
A senior Russian official has stated that Russia is prepared to supply fertilisers and other agricultural products to countries in the Global South and East, following concerns about the closure of the Strait of Hormuz impacting global fertiliser exports and food security.
Crude oil prices experienced a significant drop following the announcement of a US-Iran ceasefire and the reopening of the Strait of Hormuz, leading to heavy selling by traders.
India significantly increased piped natural gas (PNG) connections in March as the government accelerates the expansion of cleaner fuel networks amid global supply disruptions.
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.
Pakistan's Foreign Minister Ishaq Dar met with his counterparts from Egypt and Turkiye in Islamabad ahead of a quadrilateral summit, including Saudi Arabia, to discuss the ongoing conflict in West Asia and explore avenues for peace.
India has refuted claims of payment issues hindering crude oil imports from Iran, clarifying that refiners have the flexibility to source oil from various global suppliers. The Ministry of Petroleum and Natural Gas addressed reports of a tanker rerouting to China, emphasising standard industry practices and secured oil requirements.
According to the report, the Pentagon is deploying the USS Tripoli ARG, along with the 31st Marine Expeditionary Unit (MEU), part of its own strike group.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
If the oil infrastructure is attacked by the United States, the whole area could be flooded with oil, spilling into the Persian Gulf.
Former US President Donald Trump has criticised Iran's stance on the Strait of Hormuz, calling it a form of 'extortion' amid ongoing negotiations for a peace deal. The remarks come as Iran considers imposing transit fees on vessels crossing the strategic waterway.
This sharp Iranian response came after a series of uncompromising remarks from the US president.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Donald Trump has warned Iran to open the Strait of Hormuz within 48 hours or face military action, escalating tensions amid regional conflict and impacting global oil supplies.
Indian-flagged vessels are navigating the Strait of Hormuz safely despite ongoing tensions in the region, ensuring the continued flow of vital energy supplies to India.
Iran is fighting a different war: Older, slower, and in some ways more dangerous. Iran doesn't need to shoot down an F/A-18. It only needs to make the Strait of Hormuz feel dangerous long enough for insurance markets, shipping companies, and oil futures traders to do the rest. Prem Panicker continues his must-read daily blog on the war in the Middle East.
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 imports nearly 60 percent of its LPG, with most cargo previously coming through the Strait of Hormuz, now closed for commercial shipping.
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.
External Affairs Minister S Jaishankar discussed the West Asia conflict and its impact on energy supplies with his Russian counterpart Sergey Lavrov and EU's Foreign Policy chief Kaja Kallas.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
koda Auto Volkswagen India aims to capture a 5 per cent share of India's passenger vehicle market by 2030, driven by new product launches, including alternate fuel vehicles, and a potential entry into the high-volume sub-4 metre SUV segment.
Top commanders of the Indian Navy will discuss the implications of the West Asia crisis on India's energy security and review operational readiness at a three-day conference.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
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.
Iran has issued a defiant response to United States President Donald Trump's claims regarding the conclusion of hostilities, asserting that it alone will 'determine' the end of military actions against American and Israel targets.
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