In a significant diplomatic development, External Affairs Minister S. Jaishankarhighlighted India's successful engagement with Iranthat

The ongoing conflict involving the United States, Israel and Iran has triggered what the International Energy Agency (IEA) describes as the largest disruption in the history of the global oil market, as tensions intensify around the Strait of Hormuz, one of the world’s most critical energy transit routes. In a report released on Thursday, the agency said oil and petroleum product flows through the strategic waterway have plunged sharply, raising serious concerns about global energy security

Prime Minister Narendra Modi on Thursday said the government is taking comprehensive steps to safeguard India’s energy security as global fuel markets face uncertainty due to the ongoing conflict in West Asia. Addressing the NXT Summit 2026 in New Delhi on March 12, the prime minister said India has adopted a holistic strategy to strengthen its energy sector and reduce vulnerability to global disruptions. Modi said the country has significantly expanded its strategic petroleum reserve in r

In a significant move amid the ongoing Middle East crisis, Japan has become the first G7 nation to announce the release of its strategic oil reserves. This decision comes in response to the geopolitical tensions affecting the global oil market and concerns over potential disruptions in the supply of crude oil. Japan's action is aimed at maintaining energy security and stabilizing oil prices, which have been fluctuating due to the crisis in the Middle East. As one of the world's larg

The relationship between Iran and India has long been defined by strategic patience, as Tehran maintains a nuanced and pragmatic approach to its ties with New Delhi. Despite India’s deepening defense relations with Israel and its comprehensive partnership with the United States, Iran has chosen to sustain its close relationship with India, recognizing the strategic value of energy ties and regional geopolitical balance. In a recent phone conversation between External Affairs Minis

National gas prices have climbed sharply in recent days, forcing many drivers to confront unexpectedly high costs at fuel pumps just as spring break travel begins across the country. The increase follows recent geopolitical tensions linked to military developments in Iran, which have contributed to volatility in global energy markets and pushed gasoline prices higher nationwide. With millions of families preparing for road trips and vacations, the surge in fuel costs is adding press

Global oil prices fell sharply on Tuesday after the United States confirmed that a naval escort ensured the safe passage of an oil tanker through the Strait of Hormuz, a critical shipping lane for the world’s energy markets. The announcement helped calm investors who had been reacting to escalating geopolitical tensions and fears of a major oil supply disruption linked to the ongoing Iran conflict. U.S. crude oil dropped around 15 percent to $79.96 per barrel, while Brent crude, t

In the midst of the ongoing US-Israel-Iran conflict, which has caused significant global energy strain, India has begun sending 5,000 tonnes of diesel to Bangladesh via the cross-border Friendship Pipeline. This move is part of an annual supply agreement in which India is committed to providing 180,000 tonnes of diesel to Bangladesh each year. The first consignment arrived on Tuesday, marking the beginning of a five-year plan to address Bangladesh's worsening fuel shortage. Banglade

The Indian government has moved to dismiss concerns over an LPG shortage, asserting that supplies have stabilized and are sufficient to meet the country’s demands. Government sources confirmed that oil refineries have increased LPG production by around 10% in response to earlier directives. Additional administrative measures have been implemented to curb hoarding and prevent malpractice in LPG distribution. The authorities have also extended the monitoring period for LPG distribut

The escalating tensions around the Strait of Hormuz are raising serious concerns for global energy markets, with analysts warning that the liquefied natural gas sector could be more severely affected than crude oil if the shipping route remains disrupted. While oil shipments have been partially redirected through alternative pipelines, LNG faces unique challenges due to its dependence on specialized tankers and highly centralized production, particularly in Qatar. Roughly 20 percent o

The conflict involving the United States, Israel and Iran continues to intensify across West Asia, with fighting that began on February 28 now spreading to several countries in the region. The escalation began after coordinated attacks by the United States and Israel on Iranian targets, which triggered retaliatory strikes and military responses that have gradually widened the scope of the conflict. Over the past several days, multiple Gulf nations have reported attacks and security incidents, ra

 US stocks opened sharply lower on Monday, wiping out more than $900 billion in market value within minutes of the opening bell as investors reacted to a sudden spike in oil prices and mounting geopolitical tensions in the Middle East. Crude oil briefly surged above $100 per barrel, intensifying concerns that escalating conflict in the region could disrupt supply and push global energy costs higher, potentially reigniting inflation pressures across major economies. The Dow Jones Industr

Global crude oil prices have surged past $110 per barrel as escalating tensions in the Gulf region shake energy markets worldwide. The sharp increase has triggered concerns about potential supply disruptions, particularly through the Strait of Hormuz, one of the most critical oil transit routes globally. The sudden spike represents the biggest jump in crude prices since 2020 and has raised fears about its possible ripple effects on economies that depend heavily on imported oil. Desp

Global oil markets experienced unprecedented volatility this week as escalating tensions in the Middle East disrupted key energy supply routes and triggered the largest weekly surge in U.S. crude futures since trading began in 1983. The sharp rise in oil prices reflects growing concerns among investors and governments that prolonged conflict in the region could severely affect global fuel supply chains and economic stability. West Texas Intermediate crude futures climbed sharply on

For decades, a recurring argument during periods of American involvement in the Middle East has been that such conflicts are driven by access to oil. However, the United States’ position in the global energy landscape has shifted dramatically over the past decade. Once heavily dependent on foreign imports, the country has transformed into one of the world’s largest producers of oil and natural gas, reshaping both global energy markets and geopolitical calculations. Recent figures from th

Amid escalating geopolitical tensions in West Asia and growing concerns over potential disruptions in the Strait of Hormuz, government sources have reassured citizens that India’s oil reserves and fuel stocks remain sufficient, urging the public not to panic or hoard essential petroleum products. Officials said the country currently maintains around 25 days of crude oil and petroleum products, including petrol and diesel, ensuring stability in the event of short-term supply disruptions. Liq

The U.S.-Iran war entered its fourth day on Tuesday, widening beyond its initial flashpoints and sending shockwaves through global financial and energy markets. Investors reacted swiftly to the escalating Middle East conflict, with U.S. stocks opening sharply lower. European stocks and major Asian markets also declined, reflecting mounting concerns over geopolitical instability and the risk of a broader regional confrontation. Oil prices surged amid growing fears of an energy supply

The United States could face an economic impact of up to $210 billion as Operation Epic Fury intensifies tensions with Iran, according to leading budget analysts. President Donald Trump has indicated that the conflict may continue for at least four weeks, raising concerns about prolonged military spending and wider fallout for the US economy. Estimates by economist Kent Smetters of the Penn Wharton Budget Model suggest that the total cost of the Iran conflict could significantly strain federa

The global shipping industry is grappling with mounting financial strain as escalating conflict involving the United States, Israel, and Iran disrupts maritime traffic through the Strait of Hormuz. Within three days of hostilities and retaliatory strikes across the Gulf region, freight markets have recorded sharp increases in costs, with industry estimates pointing to potential losses amounting to tens of billions of dollars per day. The Strait of Hormuz, a critical chokepoint for m

LARGO, Md. — Facing mounting public pressure over sharply rising utility costs, Maryland lawmakers and local officials are advancing a series of measures aimed at delivering immediate financial relief while pursuing long-term changes to the state’s energy infrastructure. The coordinated push reflects growing concern among residents who say recent power bills have become increasingly difficult to manage. In Annapolis, the administration of Gov. Wes Moore introduced Senate Bill 38