Page 37 - Israel Iran Conflict

Asian stocks fall, oil climbs over Iran war de-escalation uncertainties

Asian stocks were mostly lower and oil prices gained on Thursday as a de-escalation of the Iran war remained uncertain. US futures were down 0.1 per cent. Tokyo's Nikkei 225 was trading 0.3 per cent lower at 53,607.75. South Korea's Kospi lost 1.9 per cent to 5,537.30. Hong Kong's Hang Seng fell 1.4 per cent to 24,978.71, while the Shanghai Composite index was down 0.6 per cent to 3,909.16. Australia's S&P/ASX 200 edged down 0.2 per cent, while Taiwan's Taiex was trading 0.4 per cent higher. Oil prices were up again on Thursday after an earlier dip. Brent crude, the international standard, rose 1.3 per cent to USD 98.51 per barrel. It was below USD 95 on Wednesday. Benchmark US crude was 1.6 per cent higher at USD 91.75 a barrel. The rise in oil prices came as Tehran on Wednesday dismissed a ceasefire plan by the US, after the administration of US President Donald Trump offered a 15-point proposal to Iran and Trump this week delayed a self-imposed deadline to "obliterate" its ...

Iran working on draft law to introduce tolls for passage via Hormuz

The narrow waterway has been all but closed since US and Israeli strikes on Iran began almost a month ago, and has become a focal point of the war

USS Abraham Lincoln continues ops against Iranian targets: US Centcom

Iranian Navy issued another direct warning to the United States, stating that its aircraft carrier, the USS Abraham Lincoln, is being closely monitored and faces potential strikes

Indian Oil buys first Iranian LPG since 2018 as crunch worsens amid war

The refiner will share the shipment with its state-owned peers Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd

Oil prices climb as investors reassess West Asia ceasefire prospects

Brent futures rose $1.13, or 1.1 per cent, to $103.35 a barrel by 0051 ‌GMT, while US West Texas Intermediate crude futures were up $1.08, or 1.2 per cent, at $91.40 a barrel

US hits 10k targets in Iran war, including two-thirds of munition plants

US forces have hit more than 10,000 targets so far in the Iran war, the head of the American military's Central Command said. US Navy Adm. Brad Cooper made the comments in a video released early Thursday by Central Command. "If you combine what we've accomplished with the success of our Israeli ally, together, we have struck thousands more," Cooper said. "Our precision strikes have overwhelmed Iranian air defences and our combat flights are having tangible effects." Cooper added that the US has destroyed 92 per cent of "the Iranian navy's largest vessels." "They've now lost the ability to meaningly project naval power and influence around the region and around the world," Cooper said. Iran maintains its chokehold on the Strait of Hormuz, the narrow mouth of the Persian Gulf, through drone and missile attacks on shipping, however. Cooper also said the US has struck over two-thirds of Iran's munitions plants. "Today, we have damaged or destroyed over two-thirds of Iran's missile,

US circulates 15-point peace plan while sending troops to West Asia

The 2,000 paratroopers heading to the region may give President Trump more leverage in negotiations, but they also leave him with the option of doubling down on military force

Gulf airspace closures leave travellers stranded and bleeding cash

Some people booked on Gulf carriers have described hours on hold to reach customer service, repeated cancellations with little explanation and automatic refunds without rebooking options

US troop movements raise fears of a risky ground attack on Iran

Iran has publicly rejected Trump's diplomatic outreach and threatened massive retaliation if the US does put boots on the ground in a bid to break Tehran's will

No one wants Iran's top job, fears being killed by US, says Trump

Trump, while delivering remarks at the NRCC Annual Fundraising Dinner, said that there has never been a head of a country who wanted that job less than being the head of Iran

Hormuz route opened for friendly countries, including India: Iran

Iranian Foreign Minister Abbas Araghchi on Thursday said that they have permitted the passage of vessels for friendly countries, including India, through the Strait of Hormuz.Consulate General of Iran in Mumbai said in a post, "Iran FM Abbas Araghchi: We permitted passage through the Strait of Hormuz for friendly nations including China, Russia, India, Iraq, and Pakistan."This follows comments by the Secretary-General of the UN, Antonio Guterres, who called for the opening of the Strait of Hormuz.In a post on X, he said, "The prolonged closure of the Strait of Hormuz is choking the movement of oil, gas, & fertilizer at a critical moment in the global planting season. Across the region & beyond, civilians are enduring serious harm & living under profound insecurity. The UN is working to minimise the consequences of the war. And the best way to minimise those consequences is clear: End the war - immediately."Guterres urged the US and Israel to end the war in West ...

No plan for negotiations with US to end war, says Iranian foreign minister

Iranian Foreign Minister Abbas Araghchi said his government has not engaged in talks to end the war, "and we do not plan on any negotiations". His remark came during an interview with the Iranian state TV on Wednesday. The Islamic Republic dismissed an American plan to pause the war in the Middle East and launched more attacks on Israel and Gulf Arab countries, including an assault that sparked a huge fire at Kuwait International Airport. Iran's defiance came as Israel launched airstrikes on Tehran and as the United States deployed paratroopers and more Marines to the region. Earlier, two officials from Pakistan, which transmitted the US plan to Iran, described the 15-point proposal broadly, saying it addressed sanctions relief, a rollback of Iran's nuclear programme, limits on missiles and reopening the Strait of Hormuz, through which a fifth of the world's oil is shipped. An Egyptian official involved in the mediation efforts said the proposal also includes restrictions on Iran'

Trump to visit China in May after rescheduling trip due to Iran war

US President Donald Trump will travel to China on May 14 and 15 for a rescheduled summit with his Chinese counterpart Xi Jinping, the White House announced on Wednesday. Trump, who was earlier scheduled to travel to Beijing by the end of this month, postponed his trip due to the war in Iran. Announcing Trump's "long-awaited" trip to China, White House Press Secretary Karoline Leavitt said the US president and First Lady Melania will also host President Xi and his wife, Peng Liyuan, for a reciprocal visit to Washington DC at a later date this year. Responding to a question if the two leaders spoke about the conclusion of the war as a precondition to reschedule this meeting, she answered there was no discussion about the rescheduling of the meeting between the president and Xi. "President Xi understood that it's very important for the president to be here throughout the region right now. He understood, obviously, the request to postpone and accept it, which is why we have a meeting,"

Dharmendra Pradhan urges fast-tracking of ₹8,743 cr Chandikhol SPR

Union minister flags energy security risks amid West Asia tensions; project expected to boost reserves and add over seven days of crude cover

India buys first Iran LPG cargo after US eases sanctions amid crisis

India had shunned energy purchases from Iran ‌in 2019 under pressure from Western sanctions. The tanker was initially bound for China, according to LSEG data

India not 'broker' amid West Asia crisis: Jaishankar at all-party meet

Prime Minister Narendra Modi has conveyed to US President Donald Trump that the war in West Asia must end soon as it is hurting everyone, the government told an up-in-arms Opposition at an all-party meeting on Wednesday, terming Pakistan a "dalaal" (broker) nation in reference to its reported mediation in the conflict. There is nothing new in Pakistan's mediation efforts in the matter as that country has been "used" by the US since 1981, sources quoted External Affairs Minister S Jaishankar as saying. "We are not a dalaal nation," Jaishankar is said to have told the attendees of the meeting convened at the Parliament complex to discuss the West Asia crisis. The sources added that the government refuted the Opposition's charge that New Delhi was silent on the situation, asserting that "we are commenting and responding". When the Iran embassy was opened, the Foreign Secretary visited immediately and signed the condolence book, the government told the parties in response to the ...

FII's India allocation unlikely to change in the near term: Rajat Rajgarhia

For FII's, the favored markets over last two years have been countries that were beneficiaries of new age tech and artificial intelligence (AI), he said.

MF launches taper off in March in the midst of West Asia flare-up

Only nine equity schemes launched in March as geopolitical uncertainty and market volatility prompt fund houses to delay new offerings despite strong pipeline

Best of BS Opinion: Job crisis and oil shocks converge on India's economy

Here are the best of Business Standard's opinion pieces for today

Optimism for Gulf oil is premature: India must boost domestic output now

Weaponising trade chokepoints has fragmented global markets like crude oil, leading to sharp regional price variations