West Asia

LNG prices surge to multiyear highs as West Asia war squeezes supplies

West Asian supply disruptions and low European gas storage are pushing LNG prices higher, forcing price-sensitive Indian buyers to compete with Europe for cargoes

West Asia conflict, crude prices likely to drive stock markets this week

Developments in the West Asia conflict, crude oil prices, and US inflation data would be the major drivers for the stock market next week, according to analysts. Besides, trading activities of foreign investors and global market trends will also influence domestic equities. "This week is expected to remain highly sensitive to global monetary policy, crude oil prices and geopolitical developments. Investors will closely monitor the impact of the stronger-than-expected US employment data on expectations regarding the Federal Reserve's September policy decision," Ajit Mishra SVP, Research, Religare Broking Ltd, said. On the domestic front, investors will continue to monitor foreign institutional flows, the rupee, crude oil prices and domestic liquidity, he added. "Developments around the Strait of Hormuz will also remain a critical monitorable given their implications for India's inflation, external balance and corporate profitability," Mishra noted. Brent crude gained more than 8 p

US strikes Iranian oil carriers after IRGC fires missiles at Navy ships

The exchange of attacks followed an escalation in the past week that threatens to deepen a conflict that has continued since the US and Israel launched strikes on Iran in February

Trump wants Strait of Hormuz renamed 'Trump Strait' amid US-Iran war

US President Donald Trump made the suggestion a day after the US Central Command (Centcom) carried out another round of attacks on Iranian military targets

IndiGo, Air India Express rank among top 10 LCCs flying from West Asia

IndiGo and Air India Express together account for 15 per cent of West Asia's LCC seat capacity, despite Indian carriers operating only international flights

China's Xi urges new Middle East security framework during Egypt visit

Xi also said China was ready to work with regional countries to safeguard shipping routes, an issue that has taken on greater importance after conflict disrupted traffic through the Strait of Hormuz

US-Iran fighting escalates as Tehran retaliates with missile, drone strikes

The US military carried out its second round of attacks in three days, which US Central Command said targeted radar systems and mine-laying capabilities along Iran's southern coast

Asian markets tumble as US-Iran fighting lifts oil and bond yields

Brent crude futures extended gains into a second day as trading resumed in Asia, rising 0.7 per cent to $95.34 a barrel after the US launched a barrage of airstrikes on Iran

US CENTCOM completes 'wave of strikes' against Iranian military targets

Sharing the details in a post on X, CENTCOM said, "U.S. forces struck Islamic Revolutionary Guard Corps (IRGC) targets including air defence sites, radar systems, maritime assets and facilities

Beating the odds

The data from the expenditure side showed that private final consumption expenditure increased 7.1 per cent during the quarter, an improvement over the previous year but below the headline rate

6 months on, Iran's leaders defying US, signalling no tolerance for dissent

After six months of war, Iran's leadership has coalesced around a hard core of military generals and clerics long entrenched in the ruling theocracy. They are ready for a potentially long confrontation with the US and determined to prevent any unrest at home. It's a far cry from US President Donald Trump's initial hopes of toppling the Islamic Republic and his subsequent claims that "regime change" had brought more compromising officials to the fore. Iran's new leaders evince little faith in any agreement with Trump - after coming under attack twice while holding talks - and they may be bracing for another assault once the US replenishes its supplies of interceptors. They have also threatened to escalate the war as a continuing American blockade and Trump's plans for new sanctions threaten to suffocate Iran's already worsening economy. "If (Trump) wants to do something, we will retaliate in a seismic manner," the new secretary of Iran's Supreme National Security Council, Mohsen ...

Mojtaba Khamenei outlines roadmap to phase out US dollar, boost output

IThe Iranian Supreme Leader stressed that the key to addressing Iran's economic challenges lies in relying on domestic production

CNG prices hiked by ₹3.89 per kg in Delhi-NCR, new rates effective today

CNG price in Delhi and adjoining cities will rise by Rs 3.89 per kg from Saturday, Indraprastha Gas Ltd said on Friday. In a statement, IGL said a significant portion of input gas for CNG is being met through imported LNG, whose rates in the spot or current market have seen a surge since the beginning of the West Asia conflict. "With international LNG prices remaining elevated and the cost impact becoming increasingly significant, a calibrated revision of Rs 3.89 per kg has now become necessary to partially offset the increase in input gas cost," IGL said, adding that the revision in CNG prices is being effected from 6 am on Saturday.

Hormuz crisis adds $22 bn to India's fossil fuel import costs: CREA

In terms of economic impact, India's net additional cost across all fossil fuels was estimated at $14.4 billion, equivalent to 0.38 per cent of its GDP, or about 1.4 days of national income

6 months of West Asia war: Market winners, losers & the road ahead

At the bourses, meanwhile, investors sought refuge in realty, pharma and the metal pack. Their respective indexes on the NSE gained up to 17 per cent thus far, ACE Equity data shows.

​Hormuz disruption to keep oil prices firm; $100/bbl risk looms: Analysts

Rabobank expects Brent to remain volatile in the months ahead, with $70-$75/bbl acting as the lower-end support zone and $95-$100 forming the upper end of the range.

Oil prices extend losses on hopes of easing West Asia supply woes

Brent crude futures were down 60 ​cents, or 0.7 per cent, to $87.24 a barrel by 0004 GMT, down for a fourth day

Indian basmati may get caught in US 'economic onslaught' on Iran

US secondary sanctions on Iran could further hit India's basmati exports, while disruptions in the Strait of Hormuz threaten freight costs and crude-oil supply risks

L&T wins three BESS projects worth over ₹5,000 crore in West Asia

The three battery energy storage projects will collectively add 6 GWh of storage capacity and include grid interconnections, substations and underground cables

Operation Economic Outcast explained: How the US plans to isolate Iran

The US has launched Operation Economic Outcast to isolate Iran by targeting its oil, shipping, technology and financial networks, while warning countries and firms trading with Tehran of sanctions