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Iran has established a new safe shipping corridor in the Strait of Hormuz. Only ships with prior approval from Iranian authorities can use this route. Several countries are in talks with Tehran for their vessels. This controlled passage offers an alternative amid ongoing regional disruptions. Some Indian ships have already used this supervised route.

Premium petrol prices have seen a hike of over Rs 2 per litre across state-run oil companies, while regular fuel and diesel rates remain steady. This adjustment comes amidst global energy market volatility fueled by the Middle East crisis, impacting India’s significant oil import dependence and potentially widening the import bill.

Global conflicts, from the Middle East to Ukraine, are directly impacting Indian households. Expect higher grocery bills due to rising LPG, cooking oil, and pulse prices. Commuting costs are increasing with fuel surcharges on flights. Even education abroad and consumer electronics are becoming more expensive, while stock market losses affect savings. The ripple effects are

According to a government official, multiple options are under consideration, with any decision on establishing such a facility likely to be taken only after the Strait of Hormuz route reopens.

Gold and silver price prediction: Gold prices may see some upside swing, while silver prices may move up to Rs 285,000, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.

Iran’s strikes on Gulf energy infrastructure, including Qatar’s LNG facility, have sent global oil and gas prices soaring. The attacks have disrupted supply routes, particularly the Strait of Hormuz, leading to significant price spikes and raising inflation concerns. Financial markets worldwide reacted negatively, with equities declining sharply amid growing uncertainty.

The Indian rupee plunged to a record low of 93.36 against the US dollar amid global market volatility and a strong dollar. The Reserve Bank of India has significantly ramped up its intervention using forward contracts, with its net-short dollar position nearing $100 billion. This stepped-up intervention aims to stabilize the rupee amidst renewed pressure

Gold prices experienced a significant drop in futures trade, influenced by a stronger US dollar and global market weakness. Rising US Treasury yields and inflation data further pressured the precious metal, making it less attractive as a safe-haven asset. This decline was reflected across major Indian cities, with varying degrees of reduction in gold rates.