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.
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 »
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 »
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.
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.
India’s oil imports are flowing smoothly through alternative routes, assuring citizens of uninterrupted energy supplies amid Middle East conflict. Minister Hardeep Singh Puri confirmed “full flow from all non-Hormuz routes,” alleviating concerns about availability, affordability, and sustainability. Qatar has also assured immediate resumption of LNG supplies once the shipping route reopens.
‘Oil imports in full flow’: Hardeep Puri assures imports from non-Hormuz routes Read More »
Indian stock markets experienced a significant downturn last week, with the top ten most valuable companies collectively shedding over Rs 2.8 lakh crore. Escalating geopolitical tensions and rising crude oil prices impacted investor sentiment, leading to broad-based selling. State Bank of India saw the steepest decline, while only Reliance Industries and Infosys managed to post
Prime Minister Narendra Modi has inaugurated and laid the foundation stone for infrastructure projects worth Rs 33,500 crore in Delhi. This includes two new Delhi Metro corridors, totaling over Rs 18,300 crore, aimed at enhancing public transport and connectivity. The event also features the foundation stone laying for three new metro routes under Phase V-A
India’s energy security is bolstered by over 250 million barrels of oil reserves, sufficient for nearly two months. Diversified crude imports from 40 countries and a reduced reliance on the Strait of Hormuz mitigate geopolitical risks. India continues to import Russian oil, complying with G7 price caps, while domestic ethanol blending and expanded refining capacity
250 million barrel buffer: How much oil does India have and how long will it last Read More »
Foreign portfolio investors divested nearly Rs 21,000 crore from Indian equities in the first week of March, driven by escalating Middle East tensions and a weakening global risk appetite. This follows a strong February inflow, with analysts citing geopolitical risks, rupee depreciation, and rising US Treasury yields as key factors influencing the outflows.
