India’s government on Thursday, April 2, 2026 (IST), said there have been no discussions with Iran regarding the imposition of tolls on Indian ships transiting the Strait of Hormuz, dismissing recent reports circulating amid heightened tensions in West Asia. Speaking at a media briefing in New Delhi, Ministry of External Affairs spokesperson Randhir Jaiswal stated that no such proposal has been discussed between the two countries, countering speculation that had raised concerns over shipping c

Gulf nations are accelerating discussions on building alternative oil and gas pipelines after Iran’s closure of the Strait of Hormuz disrupted a critical global energy corridor, halting exports from most countries in the region and cutting off roughly 20 percent of the world’s oil and gas supply. The blockade has exposed the region’s heavy dependence on the narrow maritime route, prompting officials and industry leaders to reconsider long-term infrastructure strategies. Saudi Arabia ha

LONDON — The United Kingdom on Thursday, April 2, 2026, convened a virtual meeting of foreign ministers from roughly 35 nations to address escalating disruptions in the Strait of Hormuz, with UK Foreign Secretary Yvette Cooper sharply criticizing Iran’s actions as a threat to global economic stability. Speaking in opening remarks broadcast before the closed-door session, Cooper accused Iran of “hijacking an international shipping route” and warned that such actions were effectively h

Australia is experiencing the ripple effects of a growing global fuel crisis linked to the ongoing Iran conflict, with Prime Minister Anthony Albanese warning that the economic disruption could persist for months. In a rare national address, Albanese emphasized that while Australia is not directly involved in the conflict, its economic consequences are already placing pressure on households and businesses across the country. The most immediate impact has been a sharp increase in petrol and d

Gas prices across the United States climbed above an average of $4 per gallon on Tuesday, March 31, 2026, marking the first time since 2022 that national fuel costs have reached this level, according to data released by AAA. The national average for regular gasoline rose to $4.02 per gallon, reflecting a sharp increase of more than $1 compared to prices before the ongoing Iran conflict began on Friday, February 28, 2026. The surge is largely tied to disruptions in global oil markets followin

DUBAI, United Arab Emirates — U.S. President Donald Trump issued a stark warning on Monday, March 30, 2026, threatening to expand military action against Iran by targeting critical civilian infrastructure if a deal to end the ongoing conflict is not reached soon. The remarks come as tensions in the Middle East continue to escalate, raising concerns about regional stability and global oil supply routes. In a social media statement, Trump said progress in negotiations had been “sign

The Indian rupee has slipped to a new record low, falling to 94.1575 per US dollar, surpassing its previous all-time low of 93.98 set earlier this week. The continued decline is being attributed to growing concerns over the ongoing conflict in the Middle East, which has placed significant pressure on global markets, including the Indian currency. Since the war broke out late last month, the rupee has weakened by about 3.5%, reflecting the heightened uncertainty in international mark

Moscow, Russia: Russian President Vladimir Putin has cautioned that the economic consequences of the ongoing conflict involving Iran could mirror the widespread disruption seen during the COVID-19 pandemic, highlighting mounting pressure on global supply chains and key industries. Speaking at a major business forum in Moscow, Putin said the instability in the Middle East is already causing significant strain on international production systems and logistics networks. He noted that cri

WASHINGTON — Donald Trump said Iran had sent multiple oil shipments as a goodwill gesture to demonstrate seriousness in ongoing indirect talks, describing the move as a significant signal amid heightened tensions between the two countries. Speaking as diplomatic efforts continue behind the scenes, Trump claimed that Iran provided what he characterised as “10 boats of oil,” framing the shipments as a gesture intended to advance negotiations. He suggested the tankers were operatin

NEW DELHI, India, March 26, 2026 — Narendra Modi on Thursday warned that ongoing global conflicts could trigger a prolonged energy crisis, posing significant risks to economies worldwide, including India. Addressing Parliament, Modi struck a balanced yet firm tone, cautioning that continued geopolitical tensions may disrupt global energy markets and supply chains. He sai

As India faces a severe liquefied petroleum gas (LPG) shortage due to the disruption of maritime traffic through the Strait of Hormuz, which affects nearly 60% of the country’s LPG imports, Argentina has stepped in to provide vital support. The South American country, previously not a key supplier to India, has rapidly become a crucial energy partner, delivering over 50,000 tonnes of LPG in the first quarter of 2026 alone—more than double the amount it shipped in all of 2025. Th

Iran’s Atomic Energy Organization on Tuesday reported that a projectile struck within the perimeter of the Bushehr nuclear power plant, alleging that the attack was carried out by the United States and Israel. In an official statement, the agency described the incident as part of continued aggression by what it termed the “American-Zionist enemy.” Authorities said the projectile landed inside the facility’s enclosure but confirmed that initial assessments found no financial losses, techn

Two major incidents on March 23 have drawn national attention in the United States, as authorities investigate a fatal aircraft collision at LaGuardia Airport and a massive refinery explosion in Texas that has raised concerns over energy supply and safety. Late Sunday night, just before midnight on March 23, an Air Canada Express flight collided with a fire rescue vehicle while landing at LaGuardia Airport in New York. The aircraft, a CRJ900 operated by Jazz Aviation, was carrying 72 passeng

A massive explosion at the Valero Port Arthur refinery in Texas on Monday (March 23) has triggered an emergency response and raised fresh concerns over fuel supply stability in the United States. The incident sent flames and thick black smoke into the sky, prompting authorities to issue a shelter-in-place order for nearby residents. Local emergency officials urged people in surrounding areas to remain indoors as a precaution, citing potential risks from hazardous smoke. The refinery

An airstrike targeting a military installation used by the Popular Mobilisation Forces (PMF) in Iraq’s Anbar province has resulted in multiple fatalities, including a senior commander, amid rising regional tensions. The Iran-aligned group confirmed that Saad Duwai al-Baiji, its Anbar commander, was among those killed in the strike. Initial reports indicated that at least seven PMF fighters were killed and 13 others injured when the strike hit the base during what sources described

India’s External Affairs Minister S. Jaishankar on Monday held a detailed telephonic conversation with United States Secretary of State Marco Rubio, focusing on the escalating West Asia conflict and its broader implications for global energy security and economic stability. The discussion comes at a critical time when geopolitical tensions in the Gulf region are raising concerns among major economies dependent on stable crude oil supply chains. According to Jaishankar, the conversation add

India has moved to strengthen its energy security as global tensions rise in West Asia, with Prime Minister Narendra Modi confirming that the country currently holds a strategic petroleum reserve of 53 lakh metric tonnes. Addressing the Lok Sabha, he also revealed plans to expand this reserve to 65 lakh metric tonnes in the near future.