Page 4 - West Asia

India turns to Venezuela amid West Asia crude oil supply disruptions

India is widening its crude oil sourcing to Latin America as disruptions linked to the Iran conflict and the Strait of Hormuz push the world's third-largest oil consumer to diversify supplies, ship tracking data showed. Indian crude imports from Venezuela have risen sharply in August, making the South American producer the country's fourth-largest supplier, according to ship-tracking data from Kpler. Venezuelan supplies reached about 444,000 barrels per day, ahead of Iraq's 118,000 bpd and the United States' 153,000 bpd, the data showed. Venezuela's position in India's supply mix has risen rapidly since imports resumed in April. Indian refiners increased purchases of Venezuelan, Brazilian and African crude after disruptions to Middle Eastern supplies, while continuing to rely heavily on Russian oil. Russia remains the dominant supplier, with imports close to 2 million bpd in August. Russian crude imports reached around 2.6 million bpd in June-July, accounting for more than half of .

Urban Company taps Unicommerce to expand operations in UAE, Saudi Arabia

Unicommerce said that Urban Company's arm in West Asia will leverage its flagship platform, Uniware, to manage inventory and fulfilment operations supporting its at-home service ecosystem

US military facilitates oil shipments through secret Hormuz route: Report

The US military has established a discreet shipping corridor through the Strait of Hormuz, allowing millions of barrels of oil to move daily amid disruptions to traffic during the Iran war

Sailors weigh safe harbour against risky passage with higher pay

They can disembark before Hormuz, wait for safer assignments or sail on for hefty bonuses

Datanomics: Diversification helps India's exports thrive despite W Asia war

India's export diversification cushions the impact of the West Asia war, with merchandise exports rising nearly 10% despite a sharp fall in shipments to the region.

Ind-Ra lifts India's FY27 economic growth forecast by 10 bps to 6.8%

But warns El Niño, geopolitical woes may weigh on momentum

60-day deadline for Iran peace deal is expiring. Here's where things stand

The deal that US President Donald Trump signed at Versailles in June set an ambitious 60-day deadline for ending the war with Iran and reaching an accord on its nuclear program. The deadline was Monday, and the two sides are further apart than they were then. Talks, such as they are, have focused on reopening the Strait of Hormuz and lifting a US blockade on Iran, both of which were supposed to have happened under the interim deal. There has been no sign of any compromise on the strait, or that detailed nuclear talks have even begun. The US, meanwhile, has no good options for getting out of the war it started alongside Israel. Acceding to Iran's latest demands would mean giving it control over a critical international waterway that carried a fifth of the world's traded oil and gas before the war - and would be tantamount to admitting defeat. Escalating the deeply unpopular war would further draw down US supplies of advanced missile interceptors, jolt the world economy, and drive

West Asia developments, Fed minutes to shape bullion's next move: Analysts

Gold and silver prices are expected to remain positive next week, although elevated volatility is likely to persist amid developments in West Asia and key global economic data, analysts said. Market participants will track US housing and trade data, inflation figures from the UK, Eurozone, and Japan, as well as China's economic indicators for cues on industrial metals. The minutes of the Federal Reserve's FOMC meeting will also be watched for signals on the US Central bank's monetary policy outlook, they added. "The outlook for gold and silver remains positive and are expected to move up towards Rs 1.57 lakh per 10 grams and Rs 2.54 lakh per kg level," Pranav Mer, Senior Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the domestic front, gold futures for October delivery climbed Rs 2,686, or nearly 2 per cent, last week to close at Rs 1.54 lakh per 10 grams on the Multi Commodity Exchange (MCX). MCX silver for September contract gained Rs .

Trump weighs more economic pressure on Iran: What are his options?

Recent measures have targeted Iran's shadow oil fleet; shipping insurers; freezing an estimated $500 billion in ‌Iran-linked cryptocurrency

Explained: Why shipping costs through Panama Canal are soaring now

Panama Canal transit fees have surged to record levels, with auction prices for some shipping slots crossing $3 million as global demand for the key trade route rises

Trump says US has '100%' control of Hormuz as Iran demands war reparations

Donald Trump claims the US Navy has full control of the Strait of Hormuz after clearing mines, while Iran says it will not fully reopen the key oil route until its demands are met

FMCG to automobiles: India Inc counting the cost of West Asia conflict

While several firms have responded with calibrated price increases to protect margins, many signalled that further price escalations could follow

Datanomics: West Asia conflict and India's petroleum trade diversification

India's development ambitions will depend not on promises alone, but on sustained reforms, better-designed welfare, inclusive products, capable leadership and accountability

West Asia's 'Nato': Why New Delhi faces a new diplomatic challenge

Turkiye has a geographical and institutional foothold in Europe and West Asia. It is a founding member of the Organisation of Islamic Cooperation, but it is also the largest Nato member after the US

Trump may drop Iran nuclear deal demand if Hormuz reopens: Report

Donald Trump could move away from his demand for a new Iran nuclear deal if Tehran fully reopens the Strait of Hormuz, as he looks for a way to end the conflict and ease pressure on oil prices

Hormuz and India's neighbours: How China escaped West Asia crisis intact

By sharply reducing oil imports, China not only shielded its own economy from a supply shock (to an extent) - its impact also helped cushion the price shock for other Asian economies, analysts said

Data centres, nuclear power drive ₹26.75 trillion investment plans: Report

India recorded investment announcements worth Rs 26.75 trillion between April 1 and August 5, led overwhelmingly by data centres, AI and proposed nuclear power projects

Crude oil prices, West Asia developments likely to steer markets this week

Crude oil prices, geopolitical tensions in West Asia, and upcoming inflation data will dictate stock market direction this week, according to analysts. Moreover, developments surrounding the Strait of Hormuz, foreign investor trading activity, and domestic quarterly earnings will also remain key monitorables for the Indian stock market, experts added. "Domestically, investors will closely monitor the July CPI inflation print, WPI inflation, and the latest foreign exchange reserves data for fresh insights into inflation trends and external sector stability. The Q1 FY27 earnings season will gather further momentum, with several companies, including HAL, Bharat Forge, Grasim Industries, and Tata Motors, scheduled to announce their quarterly results," Ajit Mishra SVP, Research, Religare Broking Ltd, said. Globally, market participants will continue to monitor developments surrounding the Strait of Hormuz, movements in crude oil prices, and broader geopolitical negotiations involving ..