Oil spikes over $110 amid West Asia crisis; India holds fuel prices steady

Brent settles near $110 after spiking to $115 as Israel hits Iran’s South Pars and Tehran strikes Gulf energy sites, disrupting Hormuz. India holds retail prices, prioritizes domestic supply, may review exports, mandates data sharing.

HSBC may cut about 20,000 jobs (~10%) over 3–5 years as CEO Georges Elhedery leans on AI to streamline middle/back offices, aiming to trim costs 5–6%. Shares fell ~2%. The move extends a broader restructuring with Wall Street-style pay, an Asia pivot, and a $1.5b H1 cost-savings target.

SEBI’s Kamlesh Varshney says recent corrections amid West Asia war volatility make Indian equities attractive for FPIs, urging Russian investment. SEBI to ease procedures; Russian firms can list via subsidiaries or GIFT City. NSE notes better valuations, $20b Russian inflows, 23 FPIs.

A Hormuz blockade is rerouting cargo via the Cape, adding 10–20 days and ₹1.5–3.5 lakh per container, spiking input costs. Steel +20%, aluminium ~₹3.5 lakh/tonne, fuel dearer. Luxury/ultra-luxury homes in Mumbai/Delhi may rise ~5%; MMR hit most. Marble, facades cost more; delays after de-escalation.

Accenture guided Q3 revenue to $18.35–$19.0B (midpoint below $18.72B consensus) amid client caution and delayed large IT projects; shares fell >3%. It sees a 1% FY26 hit from weaker federal spend; AI seen aiding longer term. Q2 revenue rose 8.3% to $18.04B, EPS $2.93; bookings up 6% to $22.1B.

Amid the Iran war, President Trump said he isn’t sending more U.S. troops to the Middle East, adding he wouldn’t announce such moves and will do what’s needed to keep prices stable. He spoke alongside Japan’s PM Sanae Takaichi, as Reuters reported the administration is weighing thousands more troops

At its Mar 23 meeting, SEBI may allow FPIs to net same-day cash-market trades—using sale proceeds to fund buys (not for the same security)—to ease liquidity and costs.

Energy prices soared as Gulf attacks crippled key facilities. Iran hit Qatar’s Ras Laffan LNG complex, causing multi-year outages; sites in Saudi, UAE and Kuwait were also struck. Brent neared $119, US crude topped $100, European gas jumped. US mulls supply boosts; risks could push oil toward $150.

Fed, FDIC and OCC proposed easing bank capital rules, projecting moderate CET1 cuts (~4.8% for big banks, 5.2% for midsize), potentially freeing funds for lending, buybacks and dividends. Plan refines Basel III, adjusts risk methods and G-SIB surcharges. 90-day review; Gov. Barr dissents.

An Iranian missile struck Israel’s Oil Refineries in Haifa with no significant damage, the Energy Ministry said. Power was briefly disrupted but restored; grid damage is localized. No casualties. Bomb squads responded, and debris from an intercepted missile is being treated as a hazmat incident.

UK PM Keir Starmer and leaders of Japan, Germany, France, Italy and the Netherlands urged Iran to halt attacks on energy and civilian sites and end disruption in the Strait of Hormuz. Warning of risks to global trade and prices, they pledged to support safe passage and stabilize energy markets.

Israeli strike on Iran's South Pars gas field, coordinated with the U.S., triggered Iranian attacks on energy sites in Qatar, Saudi Arabia, and the UAE. Trump denied prior knowledge. Gulf states sought answers amid mixed U.S.-Israel messaging and differing aims in the conflict, officials said.

India’s Income-tax Act, 2025 (effective Apr 1, 2026) simplifies compliance: a single tax year, clearer drafting, merged audit Form 26, tighter disclosures, revised TDS/TCS and return timelines, higher perquisite limits, and default new regime with higher exemption. 

Iranian strikes damaged Qatar’s LNG hub, cutting about 17% (12.8 mtpa) of export capacity for 3–5 years. QatarEnergy may declare force majeure, impacting Europe and Asia. Other exports fall: condensate 24%, LPG 13%, naphtha/sulphur 6%, helium 14%. Two LNG trains and one GTL unit were hit.

India’s 2026 policy season pivots to cities: Budget backs CERs, high‑speed rail and big municipal bonds; Economic Survey’s DEGURBA puts 650m in functional urban areas; FC‑16 boosts ULB grants and an urbanisation premium. Yet peri‑urban/small towns lag.

WTO’s MC14 (Mar 26–29, Yaoundé) will debate a reform roadmap; the e-commerce moratorium and clearer definitions for electronic transmissions; China-led investment facilitation (backed by 128 via Annex 4) opposed by India; and talks on fisheries subsidies and a permanent public stockholding fix.

US Treasury Sec. Scott Bessent said the US may ease sanctions to let Iran’s 140 million barrels of oil “on the water” enter global markets to curb price spikes from the Gulf war, and could consider a unilateral SPR release. He ruled out financial-market intervention.

US Defense Sec. Pete Hegseth vowed the “largest strike package yet,” saying the US is “winning decisively.” He claimed Iran lost all 11 subs and strikes are down 90–95%. As the conflict hits day 20, Iran hit Qatar’s Ras Laffan; drones also struck refineries in Kuwait, UAE, and Saudi.

With LPG supplies hit by the West Asia conflict, Indian kitchens are shifting from flame to induction. Electromagnetic cooktops are faster, safer, efficient; sales are surging. Success needs higher wattage and compatible cookware. Options span Rs1.5k–11L. 

Gold slid to a 1‑month low as a stronger dollar, higher U.S. yields and a hawkish Fed hit demand. With oil spiking on Middle East tensions, central banks (ECB likely on hold) stay wary of inflation. Silver, platinum and palladium also fell, though some see gold reaching $6,000 by year‑end.

Amid the West Asia conflict and tighter energy supplies, Brent above $100 threatens inflation for India, which imports ~90% of its fuel. With RBI’s MPC meet 12 days away and rate cuts uncertain, homebuyers may compare loan rates before the financial year ends; Paisabazaar.com lists them.

US envoy Sergio Gor met Sri Lanka’s President Dissanayake to bolster ties and discuss Sri Lanka’s stance on the West Asia crisis, sea‑lane security, trade, and a free Indo‑Pacific; he’ll also visit Maldives.

India’s power capacity will double to 1,121 GW by 2036, with ~70% from non-fossil sources—509 GW solar, 155 GW wind; coal at 315 GW. Storage of 174 GW/888 GWh (BESS 80/321, PSP 94/567) is planned. Large build-out is underway. Peak demand to hit 459 GW and energy 3,365 BU by 2035-36.

DGLW (Labour Ministry) invites digital influencers to promote PM-SYM; submit details by Mar 25, 2026. PM-SYM matches contributions for unorganised workers (18–40, ≤₹15k) with ₹3,000/month pension and 50% spouse benefit. Implemented via LIC; linked to MyGov outreach.

India is seeking extra fertiliser imports from Russia, Belarus, Morocco and possibly Indonesia as Middle East turmoil and China’s export curbs threaten supplies before summer planting. LNG/gas disruptions via Hormuz are tightening urea; prices top $600/ton. Govt aims to avert shortages.

India’s JSW Steel Coated Products urged government help to secure LNG and propane to avoid production disruptions as Middle East conflict and Hormuz disruptions squeeze supplies. Shortages have already hit JSW units and small mills. India is prioritising gas for essential sectors, risking deficits.

April 2026 US Visa Bulletin shows notable movement: USCIS will use Dates for Filing. EB-2 India jumps to Jan 15, 2015 (filing) and Jul 15, 2014 (final); EB-1 India/China advance; China EB-2 static. EB-3 sees broad gains; EB-5 mostly steady. Signals backlog progress but not a permanent fix.

The Sikkim government announced a 5% hike in dearness allowance (DA) for employees and dearness relief (DR) for pensioners, effective retrospectively from July 1, 2025. DA/DR rise to 257% (from 252%) for pre-revised pay and to 58% (from 55%) for revised pay. Contract staff are also covered.

Starting Apr 2, the U.S. expands its visa bond program, adding 12 countries (incl. Cambodia, Ethiopia, Georgia, Grenada, Lesotho, Mauritius, Mongolia, Mozambique, Nicaragua, Papua New Guinea, Seychelles, Tunisia), bringing the total to ~50

Oil price spikes from the Iran conflict have driven up polymer and packaging costs for India’s bottled water, erasing recent GST cuts. Bisleri raised prices ~11% to Rs20/litre; Parle Agro and Clear Premium Water hiked 8–11%. Bottle material up ~50%, caps doubled, squeezing the $5bn market.

Canada will hold permanent resident admissions at 380,000 annually in 2026–28 while sharply cutting new temporary entrants to 385,000 in 2026, aiming to reduce temps below 5% by 2027. A 33,000-slot TR-to-PR pathway opens; student/worker caps tighten, grad exemptions remain.

Assam BJP led by CM Himanta Biswa Sarma names 88 candidates for Apr 9 polls (counting May 4), allotting 26 seats to AGP and 11 to BPF. Defectors Pradyut Bordoloi and Bhupen K Borah get tickets; several seniors dropped. Separately, BJP’s Kerala second list adds 39, incl Kummanam vs Veena George.

Instagram is rolling out tap-to-pause for Reels, letting users pause/play with a single tap and access a Mute option, replacing press-and-hold for simpler, consistent controls, similar to YouTube Shorts. It’s also adding AI voice effects in DMs that restyle notes while preserving tone.

MobiKwik names ex‑Oman Arab Bank exec Anis Pathan as CRO to lead ERM, bolster security/compliance across UPI and wallet, manage cyber/fraud risks, and support expansion after a ₹40 cr incident.

Delhi Capitals named ex-Ireland all-rounder John Mooney as fielding coach for IPL 2026, the first Irish coach in an IPL staff. He joins Hemang Badani’s team with Munaf Patel, Ian Bell and Venugopal Rao, bringing experience with Afghanistan, West Indies and Ireland women. 

Indians face waits up to 134 years for U.S. employment-based green cards due to a 7% per-country cap, bottlenecking EB‑2/EB‑3. Many remain on H‑1B, with spouses limited and children aging out; Cato says 400k+ may die waiting. Efforts to ease caps have stalled, so the backlog keeps growing.

PFC and REC cut interest rates for Jaipur, Jodhpur and Ajmer discoms after a CM–Union power minister meeting, easing ₹98,000 crore debt. Jaipur gets 9.60% on PFC long-term loans; Jodhpur/Ajmer 10.50%. REC offers 9.60% medium-term; short-term falls 0.90% to 8.85%, improving balance sheets and capex.

India’s trade ministry says SMEs face payment delays and cash-flow strain as war-risk premiums and surcharges drive up freight and insurance on West Asia routes. To stabilize costs and avert order cancellations, New Delhi launched a ₹497 crore scheme to support shipment insurance.

OnePlus Nord Buds 4 Pro debut in India at Rs 3,999 (Rs 3,799 launch). TWS offer up to 55dB ANC, LHDC 5.0, Bluetooth 6.0, spatial audio, 12mm titanium drivers. Battery up to 54h with case; 10‑min top‑up = 5h. Six mics, IP55, touch/slide controls. On sale Mar 23 via OnePlus and major e‑commerce.

After finishing fifth in 2025, Delhi Capitals enter IPL 2026 with a more balanced squad. Additions Miller, Duckett, Nissanka and Ngidi join a core of Rahul, Axar, Stubbs, Kuldeep and Starc. Strengths: bowling depth. Risks: unsettled openers, reliance on overseas. Opener Apr 1 vs LSG.

Apple’s Beats launches Powerbeats Pro 2 Nike Special Edition in India at Rs 29,900. H2 chip, Class 1 Bluetooth, ANC/Transparency, heart-rate monitoring with Nike Run Club, IPX4 secure-fit earhooks. Up to 10h per charge/45h with smaller wireless-charging case. Black/Volt design. 

Apple is rolling out iOS 26.4 RC to developers and public beta testers, signaling an imminent release. It adds Apple Music Playlist Playground, offline song ID, new widgets, accessibility tweaks, 8 new emoji, Freeform upgrades, Reminders and Family Sharing improvements, and better typing.

Minor head bumps from daily slips, commutes or sports can be deceptive. Symptoms may appear hours later: headache, dizziness, nausea, confusion—seek urgent care for seizures, slurred speech or fainting. Watch kids and elders closely. Use helmets, seat belts, safe homes; rest and monitor 24–48h.

After a 2025 slump to 6th, SRH seek a 2026 rebound. Core kept (Kishan, Abhishek, Head, Klaasen, Cummins) plus Livingstone, Edwards and youth. Strength: explosive batting. Weak: thin pace sans Shami, raw spin. Opportunities: Dubey’s rise, Kishan stand-in captain. Threats: opener reliance, injuries.

Oil jumps as Iran strikes energy sites across West Asia after South Pars hit; Brent +3.8% to $107.38, WTI $96.32 and rising. Hormuz shipments halted; output cuts seen at 7–10 mbpd. US waives Jones Act, eases fuel rules with limited impact. Iraq restarts Kirkuk exports; US crude stocks +6.2 mb.

Air pollution is a daily risk for children. Subtle signs—persistent dry cough, wheeze, breathlessness, night cough—often outlast colds and worsen on high-AQI days. Early care helps prevent asthma, stunted lung growth, mouth-breathing changes. Check AQI, use masks/purifiers, keep vaccines updated.

Pakistan Army chief Gen. Asim Munir warned Pakistan will not tolerate Afghan soil used for terrorism, citing Operation Ghazab lil Haq and a vow to dismantle militants. He urged Taliban action, called on Ulema to counter extremism, noted an Eid truce, and highlighted regional de-escalation efforts.

Fed Chair Powell signaled no rate cuts until inflation cools, saying oil-price/West Asia war effects are too early to gauge; a hike isn’t base case but discussed. Markets now price fewer cuts. Fed projects one cut, stronger growth, higher inflation. Powell, at odds with Trump, plans to stay.