India began supplying 5,000 tons of diesel to Bangladesh via pipeline on Tuesday, part of an annual agreement for 180,000 tons. This delivery aims to alleviate fuel shortages and combat illegal hoarding, as the Bangladesh government intensifies efforts to monitor stock levels and enforce supply limits.
Iran’s vital Kharg Island oil hub remains operational amidst the ongoing US-Israel war. Despite its strategic importance and potential as a military target, oil shipments continue. Seizing the island could halt Iran’s exports and trigger regional retaliation. Global energy markets and shipping through the Strait of Hormuz are already impacted
Why Kharg Island remains a red line in the US–Israel war on Iran Read More »
Middle East conflict intensifies, driving oil markets past $100 a barrel as Brent crude reached $118. Fears of energy supply disruption and blocked shipping routes, particularly through the Strait of Hormuz, have caused significant price surges. This volatility impacts global energy supplies and the cost of everyday goods.
Crude oil surpasses $100: WTI up 30%, brent crude reaches $118; what it means? Read More »
Asian stocks plummeted Monday as surging oil prices, driven by Middle East supply concerns, rattled markets. South Korea’s Kospi led the decline, falling over 7.8%. Brent crude surpassed $118 a barrel, reaching a 14-year high, fueling fears of significant global economic harm.
India’s external affairs minister emphasized national interest, including energy security, as paramount amid Middle East conflict. He highlighted concerns over supply chain disruptions and instability, stressing the government’s commitment to managing energy availability and costs for Indian consumers. India advocates for de-escalation through dialogue and diplomacy.
G-7 nations are considering a joint release of strategic oil reserves to stabilize surging crude prices amid the ongoing Middle East war. Finance ministers will discuss the coordinated drawdown, which would be in conjunction with the International Energy Agency. This move aims to alleviate supply disruptions impacting global consumers and industries.
Oil above $100 as Iran war disrupts supply: Will G7 tap emergency reserves? Read More »
Gold futures experienced a significant drop of Rs 1,052 on Monday, closing at Rs 1,60,582 per 10 grams due to weakened local spot demand and soft global cues. Conversely, silver futures saw an advance, gaining Rs 4,362 to end at Rs 2,63,923 per kilogram on the MCX amid market uncertainties.
