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Asian shares rise, oil dips after Trump says Iran talks progressing
Asian shares mostly rose Monday and oil prices plunged after US President Donald Trump said talks on ending the war with Iran are progressing. Japan's benchmark Nikkei 225 surged 3.1 per cent in morning trading to 65,321.56. Australia's S&P/ASX 200 added 0.4 per cent to 8,692.70. The Shanghai Composite edged up 0.4 per cent to 4,127.53. Trading was closed in South Korea and Hong Kong for holidays marking Buddha's birthday. Trading will be closed in the US on Monday for Memorial Day. Trump said negotiations with Iran were "proceeding in an orderly and constructive manner." Meanwhile, regional officials told The Associated Press on Sunday that the United States is close to reaching a deal with Iran that would end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium, Reopening the Strait of Hormuz will help decide the direction of oil prices. The closure has prevented oil tankers from exiting the Persian Gulf and delivering crude to ...
India prepares to send oil tankers through Hormuz for new supply
India is preparing to resume sending ships through the Strait of Hormuz to pick up oil and energy cargoes from Middle East suppliers for the first time since the Iran conflict began. State-run Shipping Corporation of India is ready to restart operations in the Persian Gulf once it receives approval from the Indian Navy and cargo orders from refiners.
Indian stocks slump as rupee touches 96.88 per dollar amid oil shock - Gulf News
Indian stocks slump as rupee touches 96.88 per dollar amid oil shockGulf News
India's fuel price hike among world's lowest outside Gulf nations: BJP
Fuel prices saw a hike of about 90 paise per litre. The BJP stated this increase is among the lowest globally. State-run oil firms absorbed significant losses for 76 days before passing on some costs. Global crude prices surged due to the West Asia conflict. India's fuel price rise remains comparatively low against international benchmarks.
Indian bond yields spike to six-week high as crude oil price rally jolts markets
Bond markets from Tokyo to New York came under pressure following fresh attacks in the Gulf region. The yield on the benchmark 10-year US Treasury note surged to a 15-month high of 4.6310%.
COMEX gold falls over 1%, silver slumps nearly 3%: Why bullion prices are under pressure
Gold and silver prices drop as a stronger US dollar, rising bond yields and Gulf tensions lift oil, rattle global markets and fuel inflation worries.
Asian shares slip as drone attacks in Gulf lift oil prices, bond yields
Japan's Nikkei eased 0.4 per cent, having fallen 2 per cent last week, though that was from record highs
India's Russian Oil Dependence Explained: Daily Imports And The Likely Shortfall After May 16
Bharat Petroleum is reportedly exploring temporary supply arrangements for Azeri and African crude varieties in a move aimed at cutting its dependence on Persian Gulf oil.
Iran war drives Russian oil windfall as Urals crude hits highest level since 2023
Russia's Urals oil export blend hit its highest price since October 2023, reaching $94.87 a barrel for tax purposes this month. This surge, driven by disruptions from the Iran war impacting Persian Gulf supplies, significantly boosts the Kremlin's war economy. Higher oil revenues are enabling the government to replenish its reserves and postpone spending cuts.
India asks US for Russian waiver extension as Iran war drags on
India has requested the United States to extend its waiver on Russian oil imports. This comes as the ongoing conflict in the Persian Gulf impacts global energy supplies. India emphasises that securing energy supplies remains a top priority for its citizens. Indian refiners are increasing Russian oil imports before the current waiver expires.
India set to scale back Russian oil imports if US waiver lapses
Iran war oil impact: Amidst the ongoing geopolitical turmoil, Indian oil refiners face a critical moment as the expiration of a US waiver looms this weekend. With the war affecting supplies from the Persian Gulf, India has lately seen a surge in Russian oil imports.
Oil shock rattles D-Street as rupee hits record low
The rupee hit a new closing low and equities slumped as oil prices surged past $100 a barrel. This was driven by Donald Trump's rejection of Iran's peace plan and PM Modi's call for austerity to conserve foreign exchange reserves and curb fuel consumption amid ongoing Gulf war concerns.