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Iran-Israel War: India orders refineries to boost LPG production for domestic use
In a decisive move to reinforce national energy security, India's Ministry of Petroleum and Natural Gas is enhancing domestic LPG output. This strategy guarantees a steady supply for homes, especially during international fuel crises. Meanwhile, hospitals will receive a prioritized allocation of imported LPG, with a specialized committee assessing the needs of businesses in the food sector and industrial clients.
GAIL seeks LNG cargo for March delivery, say industry sources
India’s largest gas distributor, GAIL (India) Ltd, has issued a tender to buy one liquefied natural gas (LNG) cargo for delivery between March 15 and March 25, according to two industry sources.
Reliance Industries, ONGC shares climb up to 3% as Iran war lifts oil prices by another 30%
Indian oil stocks rallied as crude prices jumped significantly. The escalating conflict in the Middle East triggered supply concerns. This surge benefits companies like ONGC. However, higher oil prices increase India's import bill and pressure the rupee. Experts predict further price increases, impacting inflation and equity valuations.
West Asia crisis: Pune gas crematoriums shut temporarily amid LPG restrictions
Pune's gas crematoriums are temporarily shut. This follows restrictions on LPG components like propane and butane. The ongoing West Asia conflict has disrupted oil and natural gas exports. The Ministry of Petroleum and Natural Gas ordered prioritization for domestic LPG supply. Electric and wood-fired crematoriums remain operational to serve the public.
Stock market today: Trade setup for Nifty 50, US-Iran war to gold, silver, crude oil rates; eight stocks to buy or sell
Stock market today: Experts have recommended these eight stocks to buy today —Bharat Forge, Timken India, ONGC, NTPC, Hindustan Zinc, HBL Engineering, ABB India, and Quality Power
BMW Industries Partners IOCL for Natural Gas | Zaggle Partners Blue Star for Expense Solutions | Top Buzzing Stocks Today - Equitymaster
BMW Industries Partners IOCL for Natural Gas | Zaggle Partners Blue Star for Expense Solutions | Top Buzzing Stocks TodayEquitymaster
Oil and gas prices rapidly rise as Iran war shows no signs of letting up
Oil prices have surged after the US–Israel attacks on Iran escalated into a wider Middle East war, disrupting energy supplies and shipping in the region. Tankers carrying about 20 million barrels of oil a day are stranded in the Persian Gulf due to safety risks around the Strait of Hormuz, while damage to oil and gas facilities has further tightened supply.
Avoid chasing metal rally; focus on domestic sectors: Jyotivardhan Jaipuria
Jyotivardhan Jaipuria, Founder & MD of Valentis Advisors, says market corrections during geopolitical conflicts historically present buying opportunities, though investors should stagger investments due to oil and gas risks. He remains positive on banks, select capital goods and pharmaceuticals, while continuing to hold metals but avoiding fresh buying at current levels. Export-oriented sectors like chemicals may face near-term pressure from higher logistics and raw material costs.
Indian tyre companies face multiple headwinds due to US-Iran war; CLSA warns of profit impact
CLSA noted that about 45% of the tyre industry’s raw-material basket is linked to crude oil, while another 45% is tied to natural rubber prices.
Russia oil waiver via India a temporary step to keep prices down, says American Energy Secy
Wright further asserts that record-breaking US oil and gas production has kept current fuel prices significantly lower than the previous administration’s peak.
ONGC arm OPaL says Dahej plant output hit by gas supplier force majeure amid West Asia conflict
The company said it received a force majeure notice from its gaseous feed suppliers following shutdowns caused by the unavailability of rich LNG supplies. Shares of Oil and Natural Gas Corporation Ltd ended at ₹276.35, down by ₹0.70, or 0.25%, on the BSE today, March 5.
Hormuz shutdown worsens after US hits Iranian warship; tankers stranded for fifth day
The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to provide insurance and navy escorts to ships exporting oil and gas from the Middle East in a bid to contain soaring energy prices. At least 200 ships, including oil and liquefied natural gas tankers as well as cargo ships, remained at anchor in open waters off the coast of major Gulf producers including Iraq, Saudi Arabia and Qatar, according to Reuters estimates based on ship-tracking data from the MarineTraffic platform.