Iran News

Brent crude was trading at $99.99 per barrel, down 0.47 per cent, while West Texas Intermediate (WTI) dropped 0.67 per cent to $95.09 per barrel.

The US-Iran war has fuelled a global oil crisis, with crude surging to $110 per barrel and now trading around $100 per barrel. What is interesting is that America’s announcement for Russian oil waiver for India has failed to keep the prices in check. The closure of the Strait of Hormuz is taking a toll on not just crude oil prices but also on LNG and LPG, specially in Asian nations like India, Pakistan and Nepal. America’s recent action in Venezuela had also drawn its connection to crude production. But do you know which country in the world is the largest producer of oil? 

Iran’s new supreme leader Mojtaba Khamenei has called for national unity and said the Strait of Hormuz will continue to be closed to pressure Iran’s enemies.

As global oil prices surge and shipping costs rise due to war premiums and security risks, Pakistan has little choice but to pass the increase on to consumers. But the uncomfortable reality is that the Rs 55 per litre hike may only be the beginning, according to the report in the Karachi-based Business Recorder.

While the government has attributed the increase to global oil volatility and tensions in the Middle East, the latest crisis exposes deeper structural weaknesses in Pakistan’s energy system.

According to PIB Fact Check, the Turkish newspaper Yeni Safak cited the manipulated video and claimed that India had admitted to sharing the location of an Iranian ship with Israel. 

In a comprehensive update on the fertiliser sector, the Ministry of Chemicals and Fertilisers announced that the Maximum Retail Price (MRP) of di-ammonium phosphate (DAP) has been maintained at a stable Rs 1,350 per 50 kg bag.

Since the US-Israel strike on Iran on February 28, Tehran has fired thousands of missiles and drones towards American bases in the Gulf nations, including the UAE, Saudi Arabia, Qatar, Kuwait and Bahrain. 

The price of crude oil that India imports has been on a declining trajectory for the past one year, till the geopolitical clashes commenced in West Asia on February 28, 2026, the Finance Minister said in an answer to a question in the Lok Sabha.

Drones and loitering munitions are the advanced facets of modern warfare. The ongoing conflicts in the world - be it the Russia-Ukraine war or the US-Iran battle - have shown increased use of drones to target high-value targets. Drones fly at low altitude compared to missiles. They have low manufacturing cost and mass production is easy. These are some reasons why the world is moving fast towards these aerial weapons. During Operation Sindoor, India has extensively used Harop drones for locating the Pakistani air defence system and radars. Now, learning its lessons from global conflicts, India is inducting Sheshnaag-150 swarm drones into its fleets.  

Sheshnaag-150 is a strike drone just like Shahed, while Ghatak is an Unmanned Combat Aerial Vehicle (UCAV) which can drop/fire weapons and return to the base. 

MCX gold April futures gained 0.64 per cent to Rs 1,60,700 per 10 grams on an intra-day basis. Meanwhile MCX silver May futures gained 1.87 per cent to Rs 2,67,100 per kg.

Amitabh Kant emphasised that India's next phase of energy transition must focus not just on expanding renewable capacity but also on ensuring reliable delivery of clean power.

The report from asset management firm Shriram Wealth said a 10 per cent rise from RBI's baseline assumption of crude oil price could lift inflation by 30 bps but weaken the rupee and growth minimally.

While a continuous increase in oil prices would impact India’s import bill, India maintains that it is in a reasonably comfortable position as far as crude oil, LPG and LNG are concerned. 

US-Iran War: According to figures released by the Iranian Red Crescent Society, at least 787 people have been killed in Iran since the United States and Israel launched strikes on the country on Saturday. 

China has released clear satellite images and detailed descriptions of all US military bases in the Middle East. 

The Islamic Revolutionary Guard Corps (IRGC) of Iran has claimed targeting United States military bases in several countries. It claims that while dozens of US soldiers were killed, hundreds of US troops were injured. 

MCX gold April futures gained 2.53 per cent to Rs 1,66,199 per 10 grams on Monday, while MCX silver May futures eased 0.90 per cent to Rs 2,80,090 per kg.

India is aware of what is at stake and thus, the government has reporedly prepared a contigency plan to shield Indians from the price rise of key commodities, including petrol, diesel and LPG.