Iranian Foreign Minister Seyed Abbas Araghchi announced the official end of the war and warned that any Israeli attack on Lebanon would violate an agreement between Iran and the United States. He also stated that negotiations on nuclear issues and sanctions lifting would begin on Saturday, led by Iran's Parliamentary Speaker M B Ghalibaf and US Vice President J D Vance.
Donald Trump's inconsistent statements and actions regarding the conflict with Iran have drawn criticism and confusion, raising questions about American credibility and the direction of US foreign policy.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
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?
US Secretary of State Marco Rubio said that discussions aimed at halting the conflict with Iran have shown "some slight progress," while simultaneously echoing Washington's dissatisfaction with its NATO allies.
The US and Iranian delegations left Pakistan after failing to reach an agreement in historic talks aimed at resolving the West Asia conflict and stabilising global energy markets.
The International Monetary Fund (IMF) has reduced India's growth forecast for FY27 to 6.4 per cent, citing the potential impact of higher energy prices offsetting the country's economic resilience. Despite this, India remains among the fastest-growing major economies.
The United States military and Kuwaiti air defence forces successfully intercepted multiple Iranian ballistic missile and drone attacks targeting Kuwait and Bahrain, with Iran's state broadcaster claiming American military installations in Kuwait were deliberately targeted.
Israel's Defence Minister Israel Katz declared that the Israeli military will not withdraw from its security zones in Lebanon, Syria, and Gaza, directly opposing the newly announced American-led diplomatic framework with Tehran. National Security Minister Itamar Ben-Gvir further asserted Israel's sovereignty, stating, "Trump's agreement does not bind us. Israel is not subject to the United States, and we are an independent and sovereign nation!"
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
Hours after warning that the United States could strike Iran "very hard tonight", President Donald Trump announced to halt planned military action, despite earlier threats to target Kharg Island and other key Iranian oil facilities.
An oil tanker carrying 24 Indian seafarers reported a fire off the coast of Oman, with all crew members confirmed safe. The incident occurred amidst renewed hostilities between Israel and Iran, who exchanged attacks on petrochemical facilities.
Iranian President Masoud Pezeshkian is on a state visit to Pakistan to discuss the full implementation of an agreement signed between Iran and the US, alongside regional and international developments. The visit also aims to strengthen bilateral cooperation across various sectors, following recent high-level talks between the US and Iran in Switzerland regarding regional security.
Analysts predict that inflation data, the US Federal Reserve's interest rate decision, and crude oil price trends will be the primary factors influencing the movement of Indian stock markets. Geopolitical developments, particularly the US-Iran deal, and foreign investor activity will also play a crucial role.
US President Donald Trump on Monday confirmed that his administration has received a proposal from Iran aimed at ending the ongoing conflict in West Asia, but described the offer as insufficient.
Gold and silver prices saw a significant decline in the national capital, with silver falling by Rs 7,800 to Rs 2.43 lakh per kilogram and gold by Rs 1,500 to Rs 1.54 lakh per 10 grams, as investors booked profits amid persistent doubts over the durability of the West Asia ceasefire.
The United States Central Command (CENTCOM) has confirmed the implementation of a naval blockade on Iranian ports, enforcing strict measures on vessels entering or departing, significantly escalating tensions between the two nations.
In his first major national address since hostilities began, Trump said the ongoing military campaign, dubbed 'Operation Epic Fury', has delivered 'swift, decisive, overwhelming victories'.
RBI Governor Sanjay Malhotra stated that the central bank is closely monitoring whether the supply shock from the West Asia conflict will lead to a generalised price rise, potentially necessitating monetary policy action.
Government sources indicate a potential increase in petrol and diesel prices due to rising global crude oil costs and losses incurred from a prolonged freeze on retail rates.
This sharp Iranian response came after a series of uncompromising remarks from the US president.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
US President Donald Trump lauded Prime Minister Narendra Modi's 'calm, cool, killer' persona at the G7 leaders' lunch in France, underscoring the deeply strategic relationship and formidable diplomatic skills of the Indian leader ahead of their crucial bilateral meeting.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
Representative of Iran's Supreme Leader in India, Abdul Majid Hakeem Ilahi, expressed doubts about the United States' intentions regarding negotiations, citing conflicting actions and a desire to force Iran into accepting US demands.
India's finance ministry anticipates inflation will remain relatively contained in the coming months, supported by a correction in crude oil prices and softening input costs following the cessation of the West Asia conflict, despite earlier spikes in wholesale and retail inflation.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
Indian benchmark equity indices, Sensex and Nifty, experienced a decline in early trade, ending a three-day rally, primarily due to heavy selling in IT stocks and concerns over prolonged instability in West Asia.
Trump has made it clear: the US will not lift its blockade of Iranian ports until a deal is signed.
Delhi Police have dismantled an illegal LPG cylinder hoarding and black marketing operation in Bawana, arresting one individual and seizing 75 cylinders.
India has expressed 'deep worry' and strongly protested to the US after three merchant ships carrying Indian crew members came under attack from the American military off the coast of Oman in four days, resulting in the deaths of three Indian seafarers.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
Gold prices in the national capital surged by Rs 600 to Rs 1.65 lakh per 10 grams, extending gains for the third consecutive day, while silver rebounded by Rs 5,000 to Rs 2.71 lakh per kilogram, driven by geopolitical tensions and inflation concerns.
The UK Maritime Trade Operations issued a warning noting that the incident took place approximately 15 nautical miles north of Sharjah.
India's fiscal deficit is projected to reach 4.5 per cent of GDP for the current fiscal year, exceeding the budgeted target, as the government's policy responses to the West Asia conflict are expected to strain public finances, according to research firm BMI.
Iran has presented a multi-layered proposal to the US in an attempt to break the deadlock in peace talks, focusing on de-escalation and nuclear programme discussions.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
Following the signing of a 14-point Memorandum of Understanding (MoU) with Iran, US President Donald Trump reiterated the terms for a 60-day negotiation period, vowing that Tehran will receive "not ten cents" in financial relief.
Prime Minister Narendra Modi addressed Parliament on the West Asia crisis, advocating for dialogue and diplomacy, ensuring the safety of Indians in the region, and addressing concerns about fuel and food security.
