Wall Street opened lower on Monday as the US-Israeli military campaign against Iran escalated across the Middle East, sending oil prices sharply higher.About 20 minutes into trading, the Dow Jones Industrial Average was down 0.7 percent at 48,661.35. The S&P 500 lost 0.5 percent to 6,845.44, while the tech-heavy Nasdaq Composite fell 0.4 percent to…
Qatar’s state-owned energy giant, QatarEnergy, announced on Monday that it had suspended liquefied natural gas (LNG) production following Iranian drone attacks on two of its key processing facilities. The halt affects operations at Ras Laffan Industrial City, the world’s largest LNG complex, and Mesaieed Industrial City, both critical hubs for the Gulf state’s gas output.Qatar’s…
India faces a higher import burden when global prices rise, along with possible inflationary effects. (AI image) Internationally, oil prices have risen by around 9-10% following Israel-US strikes on Iran, and amid the rising tensions in the Middle East are likely to remain elevated. Does that mean that petrol and diesel prices in India will…
Asia relies heavily on energy supplies from the Middle East, leaving the region particularly exposed. (AI image) Middle East tensions due to the ongoing conflict of Israel and the US with Iran have raised fears of the Strait of Hormuz – a key maritime route being closed – threatening crude oil and LNG supplies for…
Oil prices surged sharply on Monday as disruptions to tanker traffic through the Strait of Hormuz heightened concerns over global energy supply amid US and Israeli attacks on Iran. US crude jumped 7.6 per cent to $72.12 per barrel, while Brent crude rose 8.6 per cent to $79.11 per barrel. European natural gas futures also…
Gold prices witnessed broad-based corrections across major retail markets on Monday, with most cities reporting declines in both 22 carat and 24 carat rates. The pullback in physical markets comes amid softer domestic trends, even as underlying bullion sentiment remains sensitive to global cues, especially amid the ongoing Iran-Israel-US conflict. Here is how much gold…
Stock market holiday: Holi is just on the horizon and investors are confused about whether stock market will remain closed on March 3 or on March 4. According to the Exchange’s list of holidays, Dalal Street will remain closed on March 3 and not March 4, on the occasion of Holi, giving traders and investors…
The ongoing US-Israel conflict with Iran has both geopolitical and economic consequences for the world, and India is expected to be impacted too if it persists. Policymakers are closely monitoring crude oil prices and cargo movement following the renewed tensions in the Middle East, though they maintain that it is premature to gauge the broader…
The Middle East is on a boil and concerns are raising on what it might mean for India. New Delhi imports nearly 88% of its crude oil needs, so any disruption in global supplies can quickly push up its oil bill and fuel inflation. Fresh security concerns around the Strait of Hormuz have already driven…
India and Canada took a step towards strengthening their economic ties on Monday, as Prime Minister Narendra Modi and Canadian PM Mark J Carney agreed to pursue a trade-led partnership to boost bilateral trade to $50 billion by 2030 and speed up negotiations on a Comprehensive Economic Partnership Agreement (CEPA). The two leaders held bilateral…
