Page 17 - Us Iran Tensions

Oil rebounds over 6% after renewed US-Iran standoff in Strait of Hormuz

Oil prices rose in early trading Sunday as a standoff between Iran and the US prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. The price of US crude oil increased 6.4 per cent to USD 87.88 per barrel after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international standard, climbed 6.5 per cent to USD 96.25 per barrel. The market reaction followed more than two days of growing hopes and dashed expectations involving the strait. Iran, which effectively controls the passage, said Friday that it would fully reopen the passage off its coast to commercial traffic. Crude prices plunged more than 9 per cent on the news. Tehran reversed its decision on Saturday, after President Donald Trump said a US Navy blockade of Iranian ports would remain in effect. Over the weekend, Iran's Revolutionary Guard fired on several vessels. Trump reported the forcible seizure of an Iranian-flagged car

Oil rebounds over 6% after renewed US-Iran standoff in Strait of Hormuz

Oil prices rose in early trading Sunday as a standoff between Iran and the US prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. The price of US crude oil increased 6.4 per cent to USD 87.88 per barrel after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international standard, climbed 6.5 per cent to USD 96.25 per barrel. The market reaction followed more than two days of growing hopes and dashed expectations involving the strait. Iran, which effectively controls the passage, said Friday that it would fully reopen the passage off its coast to commercial traffic. Crude prices plunged more than 9 per cent on the news. Tehran reversed its decision on Saturday, after President Donald Trump said a US Navy blockade of Iranian ports would remain in effect. Over the weekend, Iran's Revolutionary Guard fired on several vessels. Trump reported the forcible seizure of an Iranian-flagged car

Best of BS Opinion: Govt must build consensus for Constitutional amendments

From the setback to the women's quota Bill and rising fertiliser subsidies to tensions in the Strait of Hormuz, here is a curated selection of Business Standard's top Opinion pieces today

US Navy seizes Iranian-flagged ship near Hormuz, Tehran vows swift response

The United States attacked and seized an Iranian-flagged cargo ship it said had tried to evade a naval blockade near the Strait of Hormuz on Sunday, and Iran's joint military command vowed to respond, throwing a fragile ceasefire into question days before it expires. It was the first interception since the US blockade of Iranian ports began last week. Iran's joint military command called the armed boarding an act of piracy and a ceasefire violation, the state broadcaster said. With the US-Iran standoff over the strait sharpening and the ceasefire expiring by Wednesday, it was not clear where President Donald Trump's earlier announcement that US negotiators would head to Pakistan on Monday for new talks with Iran now stood. The uncertainty sent oil prices rising again. One of the worst global energy crises in decades threatened to deepen. Trump on social media said a US Navy guided missile destroyer in the Gulf of Oman warned the Iranian-flagged ship, the Touska, to stop and then ..

West Asia conflict: US renewal of Russian oil waiver a breather for India

US renews Russia oil waiver, offering relief to India amid Hormuz disruptions, as refiners rely on diversified crude sources to maintain supplies

West Asia conflict: US team in Pakistan on Monday; no word from Iran yet

Vance, Witkoff and Kushner to lead the delegation

Market euphoria vs geopolitical reality: The fragile peace in West Asia

Markets rally on hopes of peace and lower oil prices, but fragile ground realities in West Asia and Hormuz disruptions suggest optimism may be premature

Markets may see volatility on Monday as Hormuz tensions escalate again

Indian equities may open lower on Monday as renewed Strait of Hormuz tensions raise concerns over oil prices, global risk sentiment, and the outlook for geopolitical stability

Straits and narrows: The high cost of closing global chokepoints

Paying tolls to use the Strait of Hormuz is a dark omen for the future of global trade

Developments in US-Iran war, oil prices likely to drive markets this week

Stock markets would keenly track developments in the US-Iran conflict, crude oil prices and quarterly earnings from corporates for further direction this week, analysts said. Besides, trading activity of foreign investors would also influence trading in the markets, they noted. "Geopolitical developments in the US-Iran conflict will remain a key monitorable, given their direct impact on crude oil prices and global risk sentiment," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Meanwhile, the ceasefire between the US and Iran is set to expire on April 22. On the domestic front, focus will shift to the ongoing Q4 FY26 earnings season, he said. "Market participants will initially react to results from banking heavyweights such as HDFC Bank and ICICI Bank. Subsequently, several key companies, including HCL Technologies, Infosys, Tech Mahindra, Havells, IndusInd Bank, Shriram Finance, are scheduled to announce their results," Mishra added. The country's largest private-sector

Why this suspected nuclear site in Iran is central to talks with US

Little is known about Pickaxe Mountain, but some experts say it illustrates the impossibility of relying on force alone to prevent Iran from acquiring a nuclear bomb

Why this suspected nuclear site in Iran is central to talks with US

Little is known about Pickaxe Mountain, but some experts say it illustrates the impossibility of relying on force alone to prevent Iran from acquiring a nuclear bomb

Iran doubles down on closing Strait of Hormuz as ceasefire nears end

Iran doubled down on its pledge to restrict ships passing through the Strait of Hormuz as long as the US blockade of Iranian ports remains in place, as mediators scrambled to secure further talks before the ceasefire expires this week. Iranian parliamentary Speaker Mohammed Bagher Qalibaf said in a televised interview that Tehran would continue to threaten commercial vessels transiting the critical waterway, after it fired on ships attempting to pass on Saturday. "It is impossible for others to pass through the Strait of Hormuz while we cannot," Qalibaf, who is Iran's chief negotiator in talks with the United States, said. Iran's navy has warned ships against transiting the strait, a chokepoint through which roughly one-fifth of the world's oil normally passes. After a brief uptick in transit attempts on Saturday, vessels in the Persian Gulf held their positions, wary after two India-flagged ships were fired on mid-transit and forced to turn back. Their retreat returned the Strait

Domestic LPG consumption drops 13% in March amid West Asia conflict

India's cooking gas LPG consumption fell by a steep 13 per cent in March as supply disruptions linked to the West Asia conflict hit availability for both household kitchens and commercial users, according to latest official data. LPG consumption was at 2.379 million tonne in March, 12.8 per cent lower than 2.729 million tonne consumed in the same period last year. India imports about 60 per cent of its LPG requirements, much of it via the Strait of Hormuz, which was effectively shut following US and Israeli strikes on Iran and Tehran's retaliation. With supplies from Saudi Arabia and the United Arab Emirates disrupted, the government has cut LPG supplies to commercial establishments like hotels, and industries to safeguard household cooking gas availability. According to the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC), LPG cylinder sold to domestic households fell 8.1 per cent in March to 2.219 million tonne while those sold to non-domestic users was down almost 48 pe

Hormuz tensions, Lebanon clashes undermine Trump peace deal hopes

US military is preparing to board Iran-linked oil tankers and seize commercial ships in international waters in coming days to pressure Iran into reopening the waterway

Iran fires on ships in Strait of Hormuz as Tehran imposes curbs again

The standoff over the Strait of Hormuz escalated again Saturday as Iran reversed its reopening of the crucial waterway and fired on ships attempting to pass, in retaliation after the United States pressed ahead with its blockade of Iranian ports. The strait is closed until the US blockade is lifted, Iran's Revolutionary Guard navy said Saturday night, warning that "no vessel should make any movement from its anchorage in the Persian Gulf and the Sea of Oman, and approaching the Strait of Hormuz will be considered as cooperation with the enemy" and be targeted. New attacks on the strait, through which roughly one-fifth of the world's oil normally passes, threatened to deepen the global energy crisis and push the countries into renewed conflict as the war entered its eighth week. A fragile ceasefire is due to run out by Wednesday. Iran said it had received new proposals from the United States, and Pakistani mediators were working to arrange another round of direct negotiations. Iran'

Iran fires on ships in Strait of Hormuz as Tehran imposes curbs again

The standoff over the Strait of Hormuz escalated again Saturday as Iran reversed its reopening of the crucial waterway and fired on ships attempting to pass, in retaliation after the United States pressed ahead with its blockade of Iranian ports. The strait is closed until the US blockade is lifted, Iran's Revolutionary Guard navy said Saturday night, warning that "no vessel should make any movement from its anchorage in the Persian Gulf and the Sea of Oman, and approaching the Strait of Hormuz will be considered as cooperation with the enemy" and be targeted. New attacks on the strait, through which roughly one-fifth of the world's oil normally passes, threatened to deepen the global energy crisis and push the countries into renewed conflict as the war entered its eighth week. A fragile ceasefire is due to run out by Wednesday. Iran said it had received new proposals from the United States, and Pakistani mediators were working to arrange another round of direct negotiations. Iran'

Pak plunging into darkness as war in Persian Gulf cuts off oil, gas supply

The crunch could not come at a worse time for Pakistan, just as the heat rises ahead of the monsoon season, boosting air conditioner use and power demand

US, Iran cite progress in talks as uncertainty hangs over Strait of Hormuz

Neither side offered any specifics about the state of negotiations, days before a fragile ceasefire in the US-Israeli war against Iran is set to expire

US, Iran cite progress in talks as uncertainty hangs over Strait of Hormuz

Neither side offered any specifics about the state of negotiations, days before a fragile ceasefire in the US-Israeli war against Iran is set to expire