The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
The UK Maritime Trade Operations issued a warning noting that the incident took place approximately 15 nautical miles north of Sharjah.
Indian benchmark stock indices, Sensex and Nifty, recorded their fourth consecutive day of declines, driven by selling in FMCG, financial, and auto sectors. The downturn is attributed to fresh tensions in the Middle East, uncertainty surrounding the US-Iran 60-day ceasefire, and elevated crude oil prices.
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.
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.
A media report indicates the White House was directly involved in crafting a social media post by Pakistan's Prime Minister Shehbaz Sharif, requesting then-US President Donald Trump to extend the deadline on Iran.
'US and Iran have not annulled the ceasefire, and the possibility of continuing negotiations remains open.'
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
Donald Trump says several issues were settled during the final day of talks with Xi Jinping covering trade, tariffs, and diplomacy.
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.
The United States and Iran have reached an agreement in principle to immediately and permanently halt all military operations, lift sanctions, and work towards a comprehensive final agreement within 60 days, including a significant reconstruction package for Iran.
India's wholesale price inflation surged to 8.30 per cent in April, up from 3.88 per cent in March, primarily driven by a significant increase in the prices of fuel, power, and crude petroleum, according to data from the commerce and industry ministry.
US Secretary of War Pete Hegseth on Friday claimed that Iran's new supreme leader, Ayatollah Seyyed Mojtaba Hosseini Khamenei, is "wounded and likely disfigured" in strikes by the US on the country.
US Secretary of War Pete Hegseth on Wednesday claimed that Tehran "begged" for a truce, maintaining that Washington achieved a "decisive military victory" during 'Operation Epic Fury.'
Indian equities on Dalal Street saw volatility as global market trends and oil price hike impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Apr 23, 2026.
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.
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.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
The remarkable rise of smallcaps reflects the emergence of a broad set of specialised businesses operating in industries where the sectoral tailwinds remain considerably stronger than macroeconomic headwinds, points out Debashis Basu.
The Indian government is considering additional relief packages for vulnerable sectors like MSMEs to mitigate the impact of the ongoing West Asia crisis on the economy and inflation.
Indian benchmark equity indices, Sensex and Nifty, snapped a three-day rally, tumbling nearly 1 per cent due to heavy selling in IT stocks, a jump in crude oil prices, foreign fund outflows, and fears of prolonged instability in West Asia.
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."
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian, condemning attacks on critical infrastructure in West Asia and emphasising the importance of safeguarding freedom of navigation and ensuring secure shipping lanes.
Uncertainty surrounds the US-Iran talks as a two-week ceasefire approaches its end. Pakistan is attempting to mediate, but tensions remain high after a recent naval incident.
'The real shock is going to be from a deficient monsoon.'
The core issues to be settled -- access to Hormuz, Israel's aggression in Lebanon, the question of Iran's nuclear programme, sanctions relief and compensation -- are thorny enough to require weeks of patient negotiation. The most likely outcome of the opening sessions is that both sides take the measure of each other, establish what is and is not negotiable, and return home without having broken anything. That would count as progress.
British Prime Minister Keir Starmer contacted US President Donald Trump to express his relief following a shooting incident near the White House Correspondents Dinner. The leaders also discussed the need to restore freedom of navigation in the Strait of Hormuz.
US Special Envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi are reportedly heading to Switzerland for a new round of US-Iran negotiations, following a recently announced memorandum of understanding to end hostilities in West Asia and a ceasefire between Israel and Hezbollah.
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.
Argentina has significantly increased its LPG exports to India to help mitigate shortages caused by the ongoing conflict in West Asia. This partnership is becoming increasingly important for India's energy security.
Moody's Ratings has highlighted that Indian banks are among the most exposed in the Asia-Pacific region to the West Asia crisis, primarily due to India's high dependence on energy imports, which could lead to increased inflation, higher interest rates, and strained borrower cash flows.
Two Indian nationals have been confirmed dead and one is missing following attacks on merchant vessels amidst the ongoing conflict in West Asia. The Indian government has reiterated its commitment to the welfare of its citizens in the Gulf region.
US President Donald Trump received a red carpet welcome in Beijing for talks with Chinese President Xi Jinping on trade, the Iran war, and other key issues. The visit underscores the importance both nations place on their relationship amid ongoing tensions.
A United States missile strike has reportedly hit an educational facility in Khomeyn in central Iran, according to a report by Al Jazeera citing Iran's Mehr news agency. The site was identified as the Dr Hafez Khomeyni School.
Aseem Mahajan, Additional Secretary (Gulf) in the Ministry of External Affairs, on Saturday informed that five Indians have been killed and one is missing due to the ongoing conflict in West Asia. He added that Indian missions remain open round the clock and are constantly working to provide assistance.
Iranian Foreign Minister Seyed Abbas Araghchi has warned the United States that Iran is ready to confront American troops if the US launches a ground invasion, calling such a move a potential 'big disaster' for Washington.
S&P Global Ratings warns that Indian oil marketing companies like IOC, BPCL, and HPCL may face reduced profit margins due to rising crude oil prices and government pressure to maintain stable retail prices.
Rahul Gandhi accuses the government of compromising India's energy security by allowing the US to dictate oil supply relationships, raising concerns about the impact of global conflicts on India's energy access.
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday, with the 30-share BSE Sensex falling 1,613.09 points and the 50-share NSE Nifty plunging 495 points, as the failure of US-Iran negotiations heightened concerns of a prolonged conflict driving crude oil prices sharply higher. Track Sensex, Nifty50 movement and key market drivers for April 13, 2026.
Over the past two decades, India has witnessed several major petrol price hikes, driven by global crude oil fluctuations, economic crises, currency depreciation and geopolitical conflicts. How did we get from Rs 34 to over Rs 100 today
