West Asia

Oil prices set to rise further Monday as West Asia crisis escalates

Iran warned it would attack US-linked infrastructure, including energy and desalination facilities in the Gulf, if Trump carried out his threat

Indian refiners willing to purchase Iranian energy after US waiver

Indian refiners weigh buying Iranian crude and LPG after US issues a 30-day waiver, as energy markets tighten amid the West Asia conflict

Turbulence ahead as Iran war escalates, threatens equity market stability

Escalating conflict, rising oil prices and rupee pressure likely to keep markets volatile as investors turn cautious amid global uncertainty

Fuel crisis from West Asia shuts aluminium units, halves output in India

LPG supply dries up, PNG cuts and rising input costs disrupt operations, forcing plant shutdowns and slashing output as firms struggle to service loans

Little impact of West Asia conflict on biz, 95% projects on, says L&T

Engineering, procurement and construction major Larsen & Toubro has not seen any major business impact because of the ongoing Middle East conflict, as nearly 95 per cent of the projects are continuing to function, a top official has said. The company, which gets over 35 per cent of its revenue from the geography witnessing conflict after the US and Israel's attack on Iran and the subsequent retaliations, however, flagged logistics and supply chain as key challenges and noted revenue risks if the situation remains unchanged. L&T does not see any immediate impact on revenues as the 5 per cent of projects where work has been stalled do not contribute significantly to the topline, Subramanian Sarma, its deputy managing director, told reporters over the weekend. However, if the logistical issues do not get resolved in three months, there can be an impact through revenue deferment, he added. The top company official, who directly oversees the energy portfolio, declined to directly ..

Iran says Hormuz open to all expect enemy-linked ships amid US threat

The threat of Iranian attacks during the US-Israeli war on Iran has kept most ships from getting through the narrow strait, the conduit for around a fifth of global oil and LNG supplies

Indian firms facing shipment delays, input shortages amid Iran war: CII

Indian companies are facing disruptions ranging from shipment delays to shortages of key raw materials due to the ongoing West Asia conflict, the Confederation of Indian Industry (CII) said on Sunday, highlighting growing stress across sectors dependent on global trade flows. In a statement, CII Director General Chandrajit Banerjee said firms are already seeing "downstream effects" as the conflict disrupts key maritime routes and tightens global supply chains. "Indian companies are experiencing downstream effects, from shipment delays to constraints in key energy inputs, as well as emerging shortages in essential raw materials and intermediates across several sectors that rely heavily on timely cross-border flows," he said. The industry body noted that disruptions have also placed pressure on energy markets and trade, affecting both imports and exports, with ripple-effects being felt across manufacturing and other industries. "The conflict in the Middle East has disrupted critical

Air India impacted by West Asia war, effects yet to be fully felt: CEO

The Air India Group has been significantly impacted by the Middle East conflict and the financial impact is "yet to be fully felt", according to Air India chief Campbell Wilson, who has also stressed the need for having a tighter-than-ever control of unnecessary expenditure. Loss-making Air India and Air India Express have been grappling with operational disruptions like other airlines since the start of the conflict involving the US, Israel, and Iran on February 28. "In the three weeks since the conflict started, we have had to cancel around 2,500 flights to the region. As of today, we can operate only around 30 per cent of our normal Middle East schedule because airports and/or airspace are closed, or are assessed to be beyond our safety threshold," Wilson said in a message to the staff on Friday. The airline's flights to the UK, Europe, and North America, are also taking longer flight paths due to airspace restrictions in the region, resulting in more fuel consumption. Wilson sa

West Asia war: PM Modi calls ministerial meeting to review energy situation

Prime Minister Narendra Modi will chair a meeting Sunday evening with senior ministers to review to take stock of petroleum, power, and fertiliser sectors in view of the evolving West Asia situation, sources have said. The focus of the meeting is to ensure uninterrupted supply, stable logistics and efficient distribution across the country, and the government is taking proactive steps to this end, they said. Continuous monitoring of global developments to protect consumer and industry interests is the key focus of the government, they said. On March 12, Modi said that the war in West Asia has triggered a worldwide energy crisis, posing a critical test of national character that requires dealing with circumstances through peace, patience, and increased public awareness. The prime minister emphasised that his government is working relentlessly to address disruptions that have emerged in international supply chains. "Continuous efforts are also underway to determine how we can overco

Iran internet blackout stretches into 4th week amid ongoing war concerns

The prolonged disruption has significantly curtailed communication channels both within the country and with the outside world, raising concerns

West Asia war, crude oil prices likely to steer stock markets this week

Developments related to the ongoing conflict in West Asia and its impact on crude oil prices will continue to rule investors' sentiment in a holiday-shortened week ahead, analysts said. Besides, trends in global markets, trading activity of foreign investors and rupee-dollar movement would also drive momentum in equities. Stock markets would remain closed on Thursday for Shri Ram Navami. "This week is expected to remain data-sensitive amid ongoing global uncertainties. Developments in the West Asia conflict and movements in crude oil prices will continue to act as key external drivers and are likely to dictate the near-term market trend. "On the domestic front, investors will closely monitor HSBC Flash PMI data for manufacturing, services, and composite segments, which will provide an early indication of business activity trends," Ajit Mishra -- SVP, Research, Religare Broking Ltd, said. Foreign investors have pulled out Rs 88,180 crore (about USD 9.6 billion) from Indian equities

Domestic urea plants at half capacity as West Asia war choke gas supplies

India's urea plants are running at half capacity after force majeure declarations disrupted LNG flows through the Strait of Hormuz amid escalating West Asia tensions, industry sources said on Sunday. Petronet LNG Ltd, which operates India's largest liquefied natural gas receiving terminal, declared force majeure after upstream suppliers cited their inability to deliver contracted volumes amid disruptions to cargoes transiting the Strait, sources said. The move triggered supply curtailments by state-owned gas distributors GAIL (India) Ltd, Indian Oil Corporation Ltd (IOC) and Bharat Petroleum Corporation Ltd (BPCL), which supply gas under RasGas contracts to fertiliser units across the country. "Gas supplies have been curtailed to approximately 60-65 per cent of normal levels," a senior industry official told PTI, adding that when scheduled plant turnarounds over the past six months were factored in, effective supply at some units had fallen below 50 per cent. Urea output at affecte

PM Modi stresses need for secure shipping in call with Iran's President

PM Modi also condemned attacks on "critical infrastructure" in the region, which he said threaten regional stability and disrupt global supply chains

Ready to supply more than 20% ethanol blends amid rising oil prices: AIDA

With West Asia in turmoil and crude oil prices rising, the All India Distillers' Association (AIDA) has offered to supply ethanol blends exceeding 20 per cent with petrol, saying the move could proportionally reduce India's dependence on imported crude oil. In a letter to Union Minister for Road Transport and Highways Nitin Gadkari, AIDA Deputy Director General Bharati Balaji said the ethanol industry was prepared to go beyond the E20 target already achieved by the country. "Now with the Middle East entangled in a war and oil prices having started increasing, we as an ethanol industry are ready to offer ethanol more than 20 per cent which will reduce proportionally the import of crude," she said in the letter. She said such a step will mitigate supply disruptions and adverse economic impact on the country. India achieved its E20 ethanol blending target -- mixing 20 per cent ethanol with petrol -- ahead of schedule in 2025, a goal set under Prime Minister Narendra Modi's administrat

Iran threatens to target US energy, IT systems if fuel facilities attacked

This warning from Tehran comes as defence officials at the Pentagon have formulated comprehensive strategies for the potential deployment of United States ground troops into Iran

Japan says not considering unilateral negotiations with Iran on Hormuz

About 45 Japan-linked vessels remain affected in the strait, a critical artery for global energy supplies, Japan said, adding that the government will take responsibility for their safety

Iran strikes near Israeli nuclear hub as Trump sets 48-hr Hormuz deadline

Iranian missiles struck two communities in southern Israel late Saturday, leaving buildings shattered and dozens injured in dual attacks not far from Israel's main nuclear research centre, while President Donald Trump warned the US will "obliterate" Iranian power plants if it doesn't fully open the Strait of Hormuz within 48 hours. The developments signalled the war was moving in a dangerous new direction at the start of its fourth week. Trump -- who is facing increasing pressure at home to secure the strait as oil prices soar -- issued the ultimatum in a social media post while he spent the weekend at his Florida home. Trump said he's giving Iran 48 hours to open the vital waterway or face a new round of attacks. He said the US would destroy "various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!" The Strait of Hormuz, which connects the Persian Gulf to the rest of the globe's oceans, is a critical pathway for the world's flow of oil. Attacks on commercial ships and threats of

Shockwave of West Asia conflict is rippling through global economy

Every purchasing manager index for which Bloomberg collects estimates is anticipated to show a decline when initial numbers for March are released on Tuesday

Iran's death toll in ongoing war now over 1,500: State broadcaster

More than 1,500 people have been killed in Iran during the war, the state broadcaster said late Saturday, citing the health ministry. Residents said Iran's capital saw heavy airstrikes as they marked the end of the holy month of Ramadan. Iran targeted a joint UK-US military base in the Indian Ocean, and Iran's main nuclear enrichment site was struck again, as the war in the Middle East entered its fourth week. Iran's attack on the Diego Garcia base -- 4,000 km away -- suggested Tehran has missiles that can go farther than previously acknowledged, or that it had used its space programme for an improvised launch. The US and Israel have offered shifting rationales for the war, from hoping to foment an uprising that topples Iran's leadership to eliminating its nuclear and missile programmes and its support for armed proxies. There have been no signs of an uprising, while internet restrictions limit information from Iran. The war's effects are felt far beyond the Middle East, raising foo

Iran says its Natanz nuclear facility has been hit in an airstrike

Iran's Natanz nuclear facility was hit Saturday in an airstrike, the official Iranian news agency Mizan reported. There was no radiation leakage, it said. Natanz, Iran's main enrichment site, was hit in the first week of the war and several buildings appeared damaged, according to satellite images. The United Nations' nuclear watchdog said that "no radiological consequence" was expected from that earlier strike. The nuclear facility, located nearly 220 kilometers (135 miles) southeast of Tehran, had been targeted by Israeli airstrikes in the 12-day war between Iran and Israel in June 2025, and by the United States.