Page 69 - Israel Iran Conflict

UBS downgrades HPCL, BPCL, IOC stocks as crude prices breach $100/barrel

UBS' Global Oil team has also raised their near-term oil price forecasts, Q1-26E to $71/bbl (around $80/bbl for March), and the average for 2026 to $72/bbl

More small ships to West Asia from Apr 15 as freight rates jump 300%: FIEO

With exporters facing a surge in sea freight of up to 300 per cent due to the West Asia crisis, it has been decided to increase the number of small vessels operating between India and Gulf countries from April 15 to help clear consignments, FIEO director general Ajay Sahai said on Monday. In a meeting with the DG (Shipping), exporters flagged issues they are facing due to the crisis, triggered by the US and Israel joint attack on Iran, Sahai said. About 400 exporters participated in the meeting, as the crisis is impacting the movement of containers. "It has been decided to increase the number of Non-Vessel Operating Common Carriers (NVOCCs) from April 15 between India and the Middle East countries," the director general of the Federation of Indian Export Organisations (FIEO) said. He said that the war has led to a significant jump in freight due to an additional contingency surcharge being imposed by foreign shippers. "The surcharge ranges between USD 1,500 and USD 4,000. There is

Central banks across Europe face rising rate hike bets amid Iran war

The unusually sharp repricing came as major oil producers cut supply and fears grew of prolonged shipping disruptions, pushing crude above $119 a barrel its highest level since mid-2022

IndiGo Delhi-Manchester flight turns back after 7 hours amid Iran war

An IndiGo flight from Delhi to Manchester turned back after flying for nearly seven hours due to sudden airspace restrictions linked to the West Asia conflict, forcing it to return to Delhi

Trump says ending Iran conflict will be 'mutual' decision with Netanyahu

US President Donald Trump said the decision to end the Iran conflict will be 'mutual' with Israeli PM Benjamin Netanyahu, claiming the strikes thwarted Iran's plans to destroy Israel

How West Asia conflict threatens LNG supply chain powering India's economy

West Asia conflict and disruption near the Strait of Hormuz threaten LNG shipments vital to India's fertiliser, power and manufacturing sectors, raising risks of supply shocks and higher energy costs

Akhilesh seeks debate on West Asia, questions Centre's foreign policy

Samajwadi Party chief Akhilesh Yadav on Monday sought a discussion in the Lok Sabha on the ongoing conflict in West Asia and urged the government to clarify its foreign policy, alleging that India was acting under pressure from the US. Speaking to reporters outside Parliament, Yadav said the government should spell out how it is dealing with the situation, especially in view of the large number of Indians living and working in Gulf countries. The former Uttar Pradesh chief minister also claimed that several journalists who had accompanied Prime Minister Narendra Modi during his recent trip to Israel were now stranded in the region. "A large number of Indians are stuck in Gulf countries. Journalists who had accompanied the prime minister during his visit to Israel as political journalists have now become war journalists. How will they return?" Yadav said. He also criticised the Centre's foreign policy approach, alleging that the US was "dictating" terms to India. "On one hand, we a

Crude oil prices spike near $120 a barrel as Iran war impedes production

Oil prices eclipsed USD 100 per barrel for the first time in more than three-and-a-half years on Sunday as the Iran war hinders production and shipping in the Middle East. The price for a barrel of Brent crude, the international standard, was at USD 107.97 after trading resumed on the Chicago Mercantile Exchange, up 16.5 per cent from its Friday closing price of USD 92.69. West Texas Intermediate, the light, sweet crude oil produced in the United States, was selling for about USD 106.22 a barrel. That is 16.9 per cent higher than it closed Friday at USD 90.90. Both could rise or fall as market trading continued. The increases followed the US crude price jumping by 36 per cent and Brent crude rising by 28 per cent last week. Oil prices have surged as the war, now in its second week, ensnared countries and places that are critical to the production and movement of oil and gas from the Persian Gulf. Roughly 15 million barrels of crude oil -- about 20 per cent of the world's oil -- ..

IMF urges preparation for 'unthinkable' amid prolonged West Asia conflict

IMF Managing Director Kristalina Georgieva warns a prolonged West Asia conflict could hit market sentiment, growth and inflation, urging policymakers to prepare for a "new normal" of global shocks

Oil price rise not to have substantial impact on inflation: Sitharaman

The impact of global crude price rise on inflation is not estimated to be substantial at this point as India's inflation is near the lower bound, Finance Minister Nirmala Sitharaman said on Monday. In reply to a written question in the Lok Sabha, Sitharaman said the price of both global crude oil and the Indian basket has been on a declining trajectory for the past one year, till the geo-political clashes commenced in West Asia on February 28, 2026. "Between the end of February and untill March 2, 2026, the Crude Oil FOB Price (Indian Basket) rose from USD 69.01/barrel to USD 80.16/barrel. Given that India's inflation is near the lower bound, the impact on inflation is not estimated to be substantial at this point," Sitharaman said. She was replying to a question on whether the government has reviewed the impact of rising global crude oil prices on inflation in the country. Global crude prices have been rising since February 28 when the US and Israel launched military strikes on Ir

How to trade RIL, ONGC, OMCs stocks as crude oil prices soar 78% in 9 days?

Kunal Kamble, technical analyst at Bonanza helps decode a trading strategy in oil & gas related stocks as Crude Oil prices surge to a multi-year high around $119 per barrel on Monday.

Oil over $100: How the Strait of Hormuz crisis is shaking the world economy

Within days of the US-Israel attacks on Iran, crude oil prices have surged past $100 a barrel for the first time since the early fallout of Russia's invasion of Ukraine

Oil above $100 may trigger 10% Nifty correction, drag P/E to 18x: ICICI Sec

Brent crude oil has topped the $100-mark which may trigger a 10 per cent fall in Nifty, warns ICICI Securities. Rising oil prices could widen India's trade deficit and push inflation higher

Iran war could raise challenges for emerging market sovereigns: Fitch

Fitch Ratings on Monday said the Iran conflict could raise additional challenges for some emerging market sovereigns in areas like energy imports, remittances and exchange rates. On February 28, the US and Israel launched military strikes on Iran who retaliated with attacks on US positions in the region, as well as Israel. In a report titled 'Iran conflict raises new credit risks for emerging market sovereigns', Fitch said more sustained disruption to global energy supplies from the Gulf than envisaged under its baseline could significantly damage global investor sentiment. "We expect this would result in a stronger US dollar and weaken the market for debt issuance, particularly for highly speculative-grade issuers. Higher energy prices could put upward pressure on inflation, affecting monetary policy decisions globally," the report said. Fitch said oil and gas imports are the most direct channel for contagion from the conflict, given its effect on global energy prices. For larger

LS adjourned till 3 pm amid opposition protests over West Asia crisis

Opposition MPs, including Congress president Mallikarjun Kharge, former party chief Rahul Gandhi and SP chief Akhilesh Yadav, staged a protest in Parliament House complex on Monday, demanding a discussion on the West Asia conflict and slamming the government for its "silence" on critical issues related to it. Earlier, opposition parties' floor leaders met in Leader of Opposition in the Rajya Sabha Kharge's chamber in Parliament House complex to deliberate on the strategy for the second half of the Budget session. Besides Kharge and Gandhi, Samajwadi Party's Ram Gopal Yadav, DMK's Dayanidhi Maran, NCP (SP)'s Supriya Sule and Shiv Sena (UBT)'s Sanjay Raut, among others, attended the meeting. In a post on X, Kharge said, "As the Parliament reconvenes for the second part of the Budget session, US-Israel war with Iran has reached our backyard. In this context, it is imperative to have a full-fledged discussion on the current geopolitical crisis." "A one-sided statement by the EAM is not

G7 nations to consider emergency oil release amid global price surge

G7 nations are set to discuss a coordinated oil release from strategic reserves via the International Energy Agency as the West Asia conflict pushes crude prices higher and raises supply concerns

Saudi Aramco offers spot crude as war disrupts global oil supplies

Some of the oil was offered on a delivered basis from a supertanker, carrying 2 million barrels of crude, positioned near Taiwan, which was eventually purchased by a Japanese refiner

Bangladesh closes universities to save electricity, fuel amid energy crisis

Authorities said the decision applies to all public and private universities across the country

India favours peace, return to dialogue: Jaishankar on West Asia conflict

India favours peace and return to dialogue and diplomacy and advocates de-escalation, restraint and ensuring safety of civilians, External Affairs Minister S Jaishankar said on Monday on the widening West Asia conflict. Making a suo moto statement on the conflict in Rajya Sabha, he said the well being and security of the Indian community in the region remains the government's priority. "We will continue to work with the governments in the region towards the end," he said. "Our national interest, including energy security and trade goals, will always be paramount." On the spike in energy prices following the conflict that broke out when the US and Israel attacked Iran and Tehran reiterated by attacking US bases in the neighbouring regions as well as Israel, he said the government remains committed to ensuring energy security that fully takes into account availability, costs, and risks of energy markets. "For us, the interest of Indian consumers has and will always be in the overridi

Human Rights Watch says Israel used white phosphorus in southern Lebanon

The human rights group Human Rights Watch said in a report on Monday that the Israeli military "unlawfully" hit a village in southern Lebanon with shells containing white phosphorus, a controversial incendiary munition. Through geolocating and verifying seven images, Human Rights Watch said Israel fired white phosphorus using artillery at residential areas in the southern Lebanese village of Yohmor. It happened hours after the Israeli military warned the residents of the village and dozens of others in southern Lebanon to evacuate. Human Rights Watch said it couldn't independently identify if any residents were still in the area or if anyone was harmed. Human rights advocates say the use of white phosphorus is illegal under international law when the white-hot chemical substance is fired into populated areas. It can set buildings on fire and burn human flesh down to the bone. Survivors are at risk of infections and organ or respiratory failure, even if their burns are small. "The .