The announcement that the US and Iran have finalised a deal to end their 107-day conflict and reopen the Strait of Hormuz is expected to boost India's exports to West Asia, which was severely impacted by the hostilities, spur manufacturing activity and help stabilise the rupee, according to exporters and experts. They said the announcement, if implemented successfully, would reduce pressure on India's import bill, ease inflationary covers and create a more conducive environment for trade. The peace agreement would be signed on June 19 in Switzerland. The US and Iran have reached a peace deal to end a four-month war that disrupted global energy supplies, pushed oil prices above USD 100 per barrel, and brought the Middle East to the brink of a wider regional conflict. For India, which relies heavily on West Asia for crude oil, LPG and LNG supplies, the deal promises relief from high energy prices, pressure on the rupee, and inflation risks that intensified during the conflict, econom
The LNG carrier, under a long-term charter with an Indian state-owned importer, is heading into the eastern arm of Hormuz, toward the Gulf of Oman, according to ship-tracking data
The LNG carrier, under a long-term charter with an Indian state-owned importer, is heading into the eastern arm of Hormuz, toward the Gulf of Oman, according to ship-tracking data
Technical analysts believe that the Nifty can potentially surge to 24,600 from here if it clears hurdles at 23,800 and 24,200-24,300 levels.
According to Iran's Mehr news agency, the US has agreed to release the frozen assets before the start of negotiations, which focus on key issues including Tehran's nuclear programme
According to Iran's Mehr news agency, the US has agreed to release the frozen assets before the start of negotiations, which focus on key issues including Tehran's nuclear programme
A reopening or normalization of shipping through the Strait of Hormuz would provide significant relief for India, one of the world's largest crude importers, by easing concerns over oil supplies, lowering freight costs and reducing pressure on inflation. The narrow waterway between Iran and Oman handles roughly a fifth of global oil consumption and serves as the primary export route for major Gulf producers, including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Qatar - all key energy suppliers to India. Supply of crude oil - the raw material for making fuels like petrol and diesel - and natural gas - the feedstock used to generate electricity, produce fertiliser, turned into CNG to run automobiles and piped to household kitchens for cooking - through the strait was disrupted since the start of Iran in the end of February. This triggered sharp increases in crude oil prices, shipping insurance premiums and freight rates. Industry sources and analysts said the reopening an
Right after his 80th birthday party celebrations, US President Donald Trump is heading to a summit in France of the G7 club of powerful democracies to dive into issues - Iran, Ukraine, trade and more - that have been sources of friction with allies he will be meeting. Hours before leaving Washington, Trump announced an agreement to end the war - a development that could change the dynamic for the G7 leaders during the talks from late Monday to Wednesday. Just days ago, when the Iran-U.S. ceasefire was hanging by a thread, with resumed strikes, the gathering on the shores of Europe's largest Alpine lake appeared headed for stormy waters. Analysts speculated that tempers could flare and that Trump might not stick around for long in Evian-les-Bains, the Alpine spa town that's been enveloped in a security bubble for the G7 leaders and guests also invited by French President Emmanuel Macron, the host. Aside from France and the U.S., the other G7 nations are Canada, Germany, Italy, Japan
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DG Shipping has advised shipping companies to restrict deployment of Indian seafarers in the Strait of Hormuz and Gulf region amid escalating security risks and attacks on commercial vessels
High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world's demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world's oil and gasoline supplies typically traveled before the war began. "It's going to take time for people to feel comfortable and for insurance to be in place ... particularly to get people on the ground to restart some of these assets," said Daniel Evans, global head of fuels and refining research at S&P Global ..
President Donald Trump marked turning 80 on Sunday by hailing an agreement to end the war in Iran hours before a birthday celebration that once would have seemed unfathomable: a cage-fighting show on the storied South Lawn of the White House. He had been touting the emerging deal for weeks, and last-minute strikes in the conflict had threatened to overshadow the ostentatious UFC mixed martial arts extravaganza - where combatants sealed inside a wire-mesh octagon try to punch, kick, chop and pummel each other into submission. Hour before the fights began, the president said an agreement to end the conflict "is now complete" and declared that the US will end its blockade of Iran and that Strait of Hormuz would reopen, potentially easing high oil prices and skittish global markets. But the crucial details are still to be negotiated. Word of the deal will allow the president to be especially jubilant as he walks out of the White House for the fights. Cabinet leaders, Republican lawmaker
The remarks came after the Israel Defence Forces (IDF) carried out what it described as a "precise strike" on a Hezbollah command centre in Beirut's Dahieh area on Sunday
The remarks came after the Israel Defence Forces (IDF) carried out what it described as a "precise strike" on a Hezbollah command centre in Beirut's Dahieh area on Sunday
Brent crude futures fell $3.51, or 4.02 per cent, to $83.82 by 2203 GMT and US West Texas Intermediate was at $80.95 a barrel, down $3.93, or 4.63 per cent
Brent crude futures fell $3.51, or 4.02 per cent, to $83.82 by 2203 GMT and US West Texas Intermediate was at $80.95 a barrel, down $3.93, or 4.63 per cent
The United States and Iran are close to signing an agreement aimed at ending their war, three regional officials told The Associated Press on Friday. A senior US official said the tentative deal includes terms for removing and destroying nuclear material from Iran. Iranian Foreign Minister Abbas Araghchi posted Friday on X that an agreement "has never been closer". He gave no details, saying a final deal was still pending. US President Donald Trump shared Araghchi's post on his own social media. The apparent breakthrough in negotiations comes after Iran exchanged fire with the US and Israel over three days this week, threatening to return the Middle East to full-scale war. Trump has said multiple times in recent weeks that the countries were on the cusp of a deal. The war launched by the US and Israel on Feb 28 has rattled the Middle East and virtually shut down oil and natural gas shipments from the Persian Gulf. A fragile ceasefire has been in place since April 7. The regional .
The United States and Iran are close to signing an agreement aimed at ending their war, three regional officials told The Associated Press on Friday. A senior US official said the tentative deal includes terms for removing and destroying nuclear material from Iran. Iranian Foreign Minister Abbas Araghchi posted Friday on X that an agreement "has never been closer". He gave no details, saying a final deal was still pending. US President Donald Trump shared Araghchi's post on his own social media. The apparent breakthrough in negotiations comes after Iran exchanged fire with the US and Israel over three days this week, threatening to return the Middle East to full-scale war. Trump has said multiple times in recent weeks that the countries were on the cusp of a deal. The war launched by the US and Israel on Feb 28 has rattled the Middle East and virtually shut down oil and natural gas shipments from the Persian Gulf. A fragile ceasefire has been in place since April 7. The regional .
A draft Iran-US memorandum reportedly outlines sanctions relief, reopening of the Strait of Hormuz and negotiations on Tehran's nuclear programme
A draft Iran-US memorandum reportedly outlines sanctions relief, reopening of the Strait of Hormuz and negotiations on Tehran's nuclear programme