Oil Markets Fall After US-Iran Interim Agreement Global oil prices slipped in early trading on Thursday,June 18,2026 following the announcement of an interim agreement between the United States and Iran aimed at ending the conflict in the Middle East. The development has eased immediate concerns over supply disruptions through one of the world’s most critical energy corridors, the Strait of Hormuz.

Iran Reaffirms Post-Deal Position on Strait of Hormuz Iran has indicated that it will proceed with plans to impose charges on vessels passing through the Strait of Hormuz after the 60-day fee-free period outlined in its memorandum of understanding with the United States. The announcement comes amid growing uncertainty over the interpretation of the recently signed agreement aimed at stabilising maritime mov

US Intelligence Flags Iran’s Strategic Leverage in Strait of Hormuz US intelligence agencies have assessed that Iran has gained significant leverage over the Strait of Hormuz following the recent conflict involving the United States and Israel, according to reports citing multiple sources. The assessment suggests that Tehran now holds the capability to disrupt or restrict movement through one of the world??

India-Canada Relations Strengthen at G7 Meeting Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney held detailed bilateral talks in Evian on the sidelines of the G7 Summit, focusing on strengthening cooperation across trade, energy, technology, education and defence. The meeting marked another step in improving ties between the two countries, with both leaders reviewing ongoing progress in

US-India Trade Deal Nears Final Stage The United States and India are approaching the final phase of a long-anticipated trade agreement, with officials indicating that negotiations are now in their “last mile” and could conclude within weeks. The development comes just ahead of a high-profile bilateral meeting between Prime Minister Narendra Modi and US President Donald Trump on the sidelines of the G7 s

The G7 summit 2026 opened in Évian-les-Bains, France, with leaders gathering for discussions on global economic pressure, trade stability, artificial intelligence, energy security, climate action and geopolitical tensions. India’s participation has drawn major attention as Prime Minister Narendra Modi is expected to present New Delhi’s priorities before some of the world’s most influential economies. Although India is not a G7 membe

Prime Minister Narendra Modi and U.S. President Donald Trump are expected to meet during the 2026 G7 summit in Évian-les-Bains, France, with trade likely to lead their bilateral agenda and Strait of Hormuz security shaping wider summit discussions. The Modi-Trump G7 meeting 2026 comes as Washington and New Delhi continue negotiations over a possible trade agreement. A senior U.S. administration official said the leaders would review the progress of those talks, although a final agr

Oil Falls On Peace Deal Hopes Oil prices fell sharply on Friday, June 12, 2026 as renewed hopes for a peace agreement between Iran and the United States eased fears of prolonged disruption to global energy supplies. Brent crude dropped below $86 a barrel during trading before recovering part of its losses, while market attention remained focused on whether diplomatic progress could reduce risks around Middle

Trump threatened Iran’s Kharg Island as US-Iran Gulf attacks intensified across oil routes, tankers and military targets, raising new risks for regional security and global energy markets. President Donald Trump said the United States would hit Iran “very hard” and threatened to take Kharg Island, a key hub in Iran’s oil economy, as Washington increased pressure on Tehran to shut down its nuclear program and accept a peace deal. US-Iran Gu

US shale oil exports reached a new milestone in May, pushing the United States ahead of Saudi Arabia and Russia in global crude oil and refined fuel shipments. The shift marks a major reversal for a country that once depended heavily on West Asian oil and was deeply affected by the 1973 Arab oil embargo. US Shale Oil Exports Reach May Record Ship-tracking data cited by Reuters showed U.S. exports of crude oil and refined fuels reached about 10.

The fragile calm between Israel and Iran shattered as both nations launched attacks targeting key infrastructure. For the first time since their April ceasefire, strikes on petrochemical and industrial sites in Mahshahr and Haifa have escalated tensions in the Middle East. International observers are warning of broader consequences for regional security and global energy supply. Mahshahr and Haifa Facilities Hit

Strengthening India-Venezuela Relations Prime Minister Narendra Modi held a high-level meeting with Venezuela's Acting President Delcy Rodriguez in New Delhi on Thursday. The meeting took place at Hyderabad House, where both leaders discussed the full spectrum of India-Venezuela relations. Key focus areas included energy security, trade and investment, pharmaceuticals, healthcare, transportation, and renewabl

Oil prices rose sharply as Brent crude touched $98.20 per barrel on Wednesday, fueled by rising tensions between the United States and Iran. Recent missile activity in the Gulf region and disrupted shipping routes have intensified concerns about energy supply. Although strategic oil reserves remain untapped for now, the market is reacting to potential risks in the Strait of Hormuz. August contracts have jumped over 2% since early June and more than 5% in just the past week.

The Ofgem July price cap 2026 will raise typical UK household energy costs from July as higher wholesale gas prices continue to affect Britain’s energy market. Ofgem announced on Wednesday, May 27, 2026, that the energy price cap for Great Britain will rise by 13% for the period from Wednesday, July 1, 2026, to Wednesday, September 30, 2026. Under the existing typical household usage measure, the annual figure will rise from £1,641 to £1,862.

Rubio linked the expected Delcy Rodriguez India visit to possible Venezuela oil discussions as Washington pushes to expand energy cooperation with New Delhi. US Secretary of State Marco Rubio said on Thursday, May 21, 2026, that Venezuela’s acting President Delcy Rodriguez was expected to travel to India the following week. Speaking before his own India visit from Saturday, May 23, 2026, to Tuesday, May 26, 2026, Rubio said the United States wanted a larger role i

Chinese President Xi Jinping and Russian President Vladimir Putin met in Beijing to reaffirm the growing strategic partnership between their nations. The summit emphasized energy cooperation, trade expansion, and technological collaboration. Xi described the bilateral relationship as a “source of stability,” underscoring the importance of maintaining a strong alliance amid shifting global dynamics. Key Agreemen

The United States has extended its sanctions waiver on Russian seaborne oil by 30 days, allowing continued imports to key global partners like India. This temporary extension reverses previous plans to let the waiver lapse, aiming to provide flexibility for nations managing critical energy needs. Treasury officials stated the extension ensures that stranded Russian crude and petroleum products can reach markets without violating US sanctions on major Russian oil firms. This marks th

Chinese President Xi Jinping welcomed Russian President Vladimir Putin to Beijing this week, shortly after a visit from US President Donald Trump. The summit emphasizes China’s role as a central global power, balancing relations with both Washington and Moscow while advancing its strategic interests. Amid energy crises, trade disputes, and geopolitical conflicts, China aims to project stability and strengthen its influence on the global stage. Strengthening China-Russia S

Israeli Prime Minister Benjamin Netanyahu held a phone conversation with US President Donald Trump on Sunday, May 17, as tensions involving Iran remained high and questions continued over the durability of the ceasefire. The discussion reportedly focused on the war with Iran, regional security conditions and the future of diplomatic efforts aimed at preventing another round of escalation. The call came amid reports that Washington and Jerusalem are weighing their next steps after the ceasefir

Dubai, May 15, 2026 – Prime Minister Narendra Modi landed in Dubai, marking the start of a critical diplomatic and economic mission ahead of his Europe tour. The visit focused on strengthening India UAE diplomacy, with major agreements signed in energy, defence, and investment, signaling deeper bilateral cooperation. Key Agreements Strengthen India-UAE Ties