NEW DELHI: Amid the global rush to secure energy supplies, Indian agencies have seen the cost of natural gas (LNG) nearly double from around $10-12 a unit before the West Asian conflict to $19-20 per metric million Btu (MMBtu) when they made purchases in the spot market this week.The spike comes in the wake of…
Eid ul Fitr 2026 gold rush begins as prices drop in the UAE markets After weeks of soaring prices that kept many buyers on the sidelines, gold has finally taken a sharp turn in the UAE, dropping over Dh50 from its March peak and triggering a surge in last-minute Eid shopping across Dubai’s jewellery markets….
File photo (Picture credit: AP) Six major powers, Britain, France, Germany, Italy, the Netherlands and Japan, said on Thursday they are ready to support efforts to ensure safe passage through the Strait of Hormuz, as the conflict in the Gulf continues to disrupt one of the world’s most critical energy chokepoints.In a joint statement, the…
If the US were to ‘unsanction’ Iran oil at sea, India would be able to step up procurement. (AI image) Will India get access to Iran crude oil soon? The Donald Trump administration has signalled the possibility of waiving sanctions on floating Iran crude oil to ease the ongoing shock in the global energy markets….
European gas prices have more than doubled since the US-Israel-Iran conflict began. (AI image) Is an Armageddon scenario about to play out? Europe and Asia are facing a nightmare scenario with the escalating crisis in the Middle East now increasingly impacting key energy infrastructure. The latest shockwave for the market has come in the form…
The Centre on Thursday launched the RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme with an outlay of Rs 497 crore to support Indian exporters facing disruptions due to the ongoing conflict in the Middle East, as the government moved to cushion the impact of rising freight costs, insurance premiums and shipping delays.The scheme…
Benchmark equity indices Sensex and Nifty suffered a sharp sell-off on Thursday, with both plunging more than 3 per cent as surging crude oil prices, weak global cues and escalating attacks on energy infrastructure in West Asia triggered a broad-based market rout. The fall was especially severe in financials, autos and industrials, while ONGC stood…
The Centre has classified key energy data as a matter of national security and directed all entities across India’s oil and gas value chain to submit detailed operational information, as the government moves to tighten oversight of supplies disrupted by the ongoing Middle East war.The oil ministry has issued the Petroleum and Natural Gas (Furnishing…
Global oil prices surged and equity markets weakened on Thursday after fresh strikes on energy infrastructure in Iran and in retaliation Islamic Republic escalating threats to key facilities across the Gulf raised concerns over supply disruptions.Natural gas prices increased by more than 5%, while Brent crude rose to $111.19 in early trading and extended its…
Gold prices witnessed a sharp fall in futures trade on Thursday, tracking weak global cues and a stronger US dollar. According to PTI, gold contracts for April delivery on the Multi Commodity Exchange dropped by Rs 3,616, or 2.36 per cent, to Rs 1,49,409 per 10 grams in a turnover of 7,387 lots.Analysts said the…
