The International Energy Agency’s decision to release 400 million barrels of emergency oil stocks, the largest reserves drawdown in its history, is likely to provide only limited relief if the Strait of Hormuz remains closed, according to an analysis by S&P Global Energy, as global markets continue to reel from the supply shock triggered by…
Indian exporters and logistics providers are scrambling to limit disruptions from the worsening Middle East conflict by closely tracking shipping carriers, planning consignments earlier and exploring alternate routes, even as freight rates, insurance premiums and transit times rise sharply amid uncertainty around the Strait of Hormuz.The main response from the exporting community has been defensive…
Developments in the ongoing Middle East conflict and the movement in crude oil prices will be the key drivers for Indian equity markets this week, analysts said, with investors also closely tracking the US Federal Reserve’s interest rate decision, inflation data and foreign fund flows after a bruising selloff in Dalal Street.Market participants are bracing…
File photo: Union minister Piyush Goyal Union minister Piyush Goyal on Saturday said India is well placed to handle any disruption in crude oil and fuel supplies despite the worsening Middle East crisis, asserting that there has been “absolutely no disturbance” in petrol, diesel or aviation fuel availability, while also indicating that the government will…
Foreign portfolio investors (FPIs) turned aggressive sellers in Indian equities in March, pulling out Rs 52,704 crore (around USD 5.73 billion) from the cash market in the first fortnight of the month. The withdrawals come amid escalating tensions in West Asia, the weakening of the rupee and growing concerns over the impact of elevated crude…
A sharp sell-off in equities last week led to a significant erosion in the market value of the country’s most valuable companies, with the top 10 firms together losing Rs 4.48 lakh crore. Banking heavyweights State Bank of India and HDFC Bank saw the steepest decline in their valuations during the period. The fall in…
India’s exports of solar panels, electronics and garments may come under closer scrutiny after the United States launched a fresh trade investigation into the presence of forced labour in global supply chains, a report by the Global Trade Research Initiative (GTRI) has said.Earlier on March 12, the United States Trade Representative (USTR) announced the probe…
Air India cancelled several flights scheduled for Sunday, to the United Arab Emirates, especially Dubai, as the evolving West Asia crisis has led to operational restrictions and schedule changes across the region.In a statement posted on X, Air India said UAE airport authorities had instructed airlines to reduce operations. “In view of the latest instructions…
The Middle East crisis is no longer just a geopolitical standoff, rather it has now escalated into a full-scale war zone, with the potential to send shockwaves through multiple economies. Analysts have warned that the US and Israel’s attack on Iran could carry direct consequences for consumers and the broader economy. At the heart of…
The ongoing Middle East crisis has triggered concerns over the supply of several essential commodities, including fertilisers. Addressing these worries, the government on Saturday said the country’s fertiliser availability remains stable, assuring that existing stocks of urea and other key crop nutrients are “more than adequate”.Speaking at an inter-ministerial media briefing on the situation related…