Page 53 - Israel Iran Conflict

India ready to support oil markets after IEA agrees for record release

IEA's release is aimed at preventing a further rise in oil prices and is more than double the ​182 million barrels released in 2022 following Russia's invasion of Ukraine

Asian shares fall, oil prices surge again as Iran hits tankers near Hormuz

Iran had earlier stepped up attacks on merchant ships in the Strait of Hormuz, telling the world to get ready for oil at $200 a barrel

177 Indians return from Lebanon; 500 depart Qatar amid West Asia conflict

According to the Indian Embassy in Beirut, the first batch of 177 Indian nationals was repatriated to New Delhi on a charter flight arranged by their employer on Wednesday

Air India, Air India Express to operate 58 flights to West Asia today

The two carriers will also operate their respective scheduled services to and from Jeddah and Muscat with a total of 10 flights to and from Jeddah, and 08 scheduled flights to and from Muscat

US to permanently close Peshawar consulate near Afghan border, citing costs

The State Department will permanently close the US consulate in Peshawar, Pakistan, which has been America's closest diplomatic mission to the Afghan border and was a primary operations and logistics point before, during and after the 2001 invasion of Afghanistan. The department notified Congress this week of its intent to close the consulate and said it would save USD 7.5 million per year, while not adversely affecting its ability to advance US national interests in Pakistan, according to a copy of the notification obtained by The Associated Press on Wednesday. The move has been under consideration for more than a year since the Trump administration began downsizing nearly all federal agencies and is not related to the Iran war, which has sparked protests in various Pakistani cities, including Karachi and Peshawar, where the US consulates temporarily suspended operations. The administration's cuts to the State Department last year included the dismissal of several thousand diplomat

Iran govt not at risk of imminent collapse despite ongoing war: US intel

US intelligence reports indicate that the IRGC and the interim leaders who assumed power after Khamenei's death retain control of the country

Home Secretary reviews LPG supply with states govts to ensure no disruption

India is among the world's largest consumers of LPG, which is widely used as a primary cooking fuel in households

Nomura cuts India FY27 GDP forecast to 7% amid West Asia conflict

Tensions in West Asia, if sustained, could test the goldilocks mix of robust growth and stable inflation, Nomura said in a recent note.

EAM Jaishankar speaks to Sergey Lavrov after US' Russian oil waiver

External Affairs Minister S Jaishankar held talks with Russia's Sergey Lavrov and EU foreign policy chief Kaja Kallas as the West Asia conflict disrupts energy supplies

Risk-reward ratio favorable for long-term investors: Rahul Singh, Tata AMC

Strategy for 2026, he said, is shifting toward sectors with a probable growth visibility such as Banking, Consumer, Resources and Manufacturing.

Standard Chartered evacuates staff from offices in Dubai: Report

British bank Standard Chartered has a large presence in the United Arab Emirates, with Dubai now a large financial hub for leading international banks including JPMorgan and HSBC

Iran warns oil could hit $200 a barrel amid threat of continuous strikes

"We won't allow even one litre of oil to reach the US, Zionists (Israel) and their partners. Any vessel or tanker bound to them will be a legitimate target," Ebrahim Zolfaqari said

IEA to release record 400 million barrels of oil from stockpiles

The IEA, which co-ordinates stockpile releases for OECD countries, has said its 32 members hold more than 1.2 billion barrels in public emergency stockpiles

India's Russian oil buy surges 50% amid scramble to replace lost barrels

India's purchase of Russian crude oil has surged 50 per cent in March as New Delhi tapped alternate sources to make up for the shortfall arising from disruption in the Middle East amid a widening military conflict. India bought about 1.5 million barrels of Russian oil this month, up from 1.04 million bpd in February, ship tracking data showed. India, the world's third-largest crude importer, sources 88 per cent of its oil needs from abroad. It consumes 5.8 million barrels per day, of which 2.5-2.7 million barrels came from Middle East countries like Saudi Arabia, Iraq, and the UAE via the Strait of Hormuz. The chokepoint also carried 55 per cent of India's cooking gas (LPG) and 30 per cent of liquefied natural gas (LNG), used for power, fertilizers, CNG, and household cooking. The ongoing conflict has largely halted shipments through the strait, forcing India to seek alternative crude sources from Russia. "India was expected to import around 2.6 million barrels per day of crude vi

Oil prices rise as supply fears linger despite IEA reserve release plan

Brent futures traded up $3.31, or 3.8%, at $91.11 a barrel by 1159 GMT. US West Texas Intermediate (WTI) traded $3.13 higher, also 3.8%, at $86.58 a barrel

Shell declares force majeure on Asia LNG deals after Qatar plant shutdown

Shell has an equity partnership with QatarEnergy in the massive Ras Laffan LNG plant, the largest single plant in the world, which shut down last week following a drone attack on the facility

India's low energy stockpiles pose risk amid West Asia conflict: S&P

S&P Global Ratings warns India's limited strategic energy reserves and heavy import dependence heighten vulnerability to supply disruptions in West Asia

IRCTC shares fall on reports of halting train catering amid LPG shortage

IRCTC shares slipped nearly 3 per cent intraday after reports suggested the company may temporarily halt cooked meal services on trains due to LPG shortages caused by supply disruptions in West Asia

Moody's warns of margin, cash-flow pressures for Indian fuel retailers

State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said on Wednesday. "Domestic retail prices of fuels have remained largely steady since April 2022, despite swings in global oil and gas prices and the country's high dependence on imports," Moody's said in a note. "The companies will bear rising input costs from higher energy prices without corresponding increases in selling prices because the government's influence over retail pricing prevents timely cost pass-throughs." The three firms control nearly 90 per cent of retail fuel outlets in the country. Global benchmark Brent crude rose sharply and hit a high of USD 119 per barrel on March 9 before settling just under USD 90 the following day, reflecting a heightened geopolitical risk premium. However, retail pump r

IRCTC may temporarily halt cooked meals on trains amid LPG supply crunch

IRCTC may pause cooked meal services on trains due to an LPG supply shortage arising out of the conflict in West Asia. It has directed kitchens to use alternate methods to meet demand