The Times of India

The Iran war's fourth week sees a stark divergence between rising physical oil prices and futures, driven by the Strait of Hormuz closure and infrastructure attacks. Refiners face steep premiums, while trucking, shipping, and airline industries grapple with escalating fuel costs, impacting consumers and the broader economy.

Indian pharmaceutical giants like Sun Pharma, Torrent, and Dr. Reddy's have launched affordable semaglutide, a groundbreaking weight-loss drug, following Novo Nordisk's patent expiry. This move significantly reduces therapy costs, offering patients greater access to treatment for obesity and type-2 diabetes. Torrent Pharma even introduced both oral and injectable versions, marking a significant step in addressing India's growing metabolic disorder crisis.

India anticipates meeting peak summer electricity demand despite Middle East conflict, relying on coal, renewables, and battery storage. Power Secretary Pankaj Agarwal stated limited gas dependence shields the system. A 4 GW imported coal plant and fast-tracked wind projects will bolster supply, while solar covers daytime needs and batteries address evening demand.

India imports a big percentage of its crude oil, LPG, and LNG needs and a substantial portion of that transits through the Strait of Hormuz which is a narrow maritime route, in effect closed since the start of the US-Israel-Iran war.

Rahul Gandhi criticizes the central government over the rupee's record low. He warns of inevitable inflation due to the West Asia crisis impacting fuel prices. Gandhi states production and transport costs will rise, hitting small businesses. He predicts hikes in petrol, diesel, and LPG prices after state elections.

Six years after locking foreign capital out of the door, India has opened it just wide enough. The Cabinet's amendment to Press Note 3 clears the fog around who can invest from where. What it does not do is throw open the floodgates.

The US faces a paradox in its conflict with Iran, relying on the nation's oil to stabilize global markets while simultaneously trying to weaken it. Disruptions through the Strait of Hormuz and attacks on energy infrastructure have sent prices soaring, forcing Washington to ease sanctions on Iranian crude. This move offers temporary relief but highlights the limited options available.

Global markets are experiencing volatility due to the Middle East conflict, leading to significant investor wealth erosion. Experts advise retail investors to remain patient and avoid panic-driven decisions, emphasizing that short-term market swings are normal. India's strong economic fundamentals and robust capital markets support a long-term investment perspective.

India sees a cautious easing of maritime movement as three crude oil tankers successfully navigated the Strait of Hormuz, with two more LPG tankers preparing to follow. This comes after diplomatic engagements with Iran, ensuring safe passage for Indian vessels amidst regional tensions. The successful transits underscore India's commitment to securing unhindered movement for its fleet.

Foreign portfolio investors continued their withdrawal from Dalal Street this week, with net outflows reaching Rs 35,475 crore. Middle East tensions and elevated crude oil prices have fueled investor caution, leading to a risk-off approach. This sustained selling trend marks the highest monthly outflow for 2026 so far.

The Middle East conflict's fourth week is impacting global economies, with nations like Germany, Italy, Britain, Japan, and India facing significant energy cost pressures and supply chain vulnerabilities. Iran's role in the Strait of Hormuz is a key concern. Countries are implementing austerity and cost-control measures amid rising inflation and currency depreciation.

Indian refiners are considering resuming Iranian crude oil purchases following a temporary US sanctions waiver. This move aims to ease an energy crunch caused by Middle East supply disruptions, with millions of barrels of Iranian crude already in transit. Clarification on payment terms from Washington is awaited before finalising shipments.

Amidst Middle East conflict and soaring oil prices, Indian oil companies have increased premium petrol variants by over Rs 2 per litre. However, retail prices for regular petrol and diesel remain unchanged, while industrial diesel costs have surged by Rs 22 per litre due to global crude oil volatility.

India's crude oil imports have significantly dropped in March due to disruptions in the Strait of Hormuz, forcing refiners to pivot towards Russia and African producers. Russia has emerged as the largest supplier, nearly doubling its shipments, while African nations like Angola have also increased their exports to compensate for reduced Middle Eastern supplies.

Amidst the ongoing war with Iran, the Trump administration is releasing 45.2 million barrels from the Strategic Petroleum Reserve to curb soaring oil prices. This move, part of a global effort, involves lending crude to energy firms with repayment including a premium, aiming to stabilize markets without taxpayer cost. The reserve, holding significant oil, is expected to grow upon repayment.

Price Of War: Job-Loss Fears Grow In Labour-Intensive Sectors

The US has granted a 30-day waiver on Iranian oil shipments currently at sea, aiming to stabilize global energy supplies amid escalating Middle East tensions. This move, intended to inject approximately 140 million barrels into the market, follows similar relaxations on Russian oil. While the US asserts control over revenue, Iran claims no surplus oil is available.

A federal jury found Elon Musk liable for defrauding Twitter investors in 2022 by disparaging the company to secure a lower purchase price. Jurors concluded Musk intentionally misled shareholders through two tweets, including one stating the deal was emporarily on hold, but absolved him of a broader scheme to defraud.

Industrial diesel prices surged by Rs 22 per litre due to global oil spikes amid Middle East conflict, while regular petrol and diesel rates remain unchanged. Oil companies are absorbing current cost pressures, with the government prioritizing energy availability for consumers. Retail fuel prices have been frozen since April 2022.

Iran has established a new safe shipping corridor in the Strait of Hormuz. Only ships with prior approval from Iranian authorities can use this route. Several countries are in talks with Tehran for their vessels. This controlled passage offers an alternative amid ongoing regional disruptions. Some Indian ships have already used this supervised route.

Gold price prediction today: Gold prices are range-bound and highly volatile in the current scenario, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Premium petrol prices have seen a hike of over Rs 2 per litre across state-run oil companies, while regular fuel and diesel rates remain steady. This adjustment comes amidst global energy market volatility fueled by the Middle East crisis, impacting India's significant oil import dependence and potentially widening the import bill.

As per an S&P Global Energy report, India is moving to broaden its sources of LPG imports, stepping up refinery output and intensifying diplomatic engagement as it works to maintain a steady supply of cooking fuel for households.

India has strongly condemned unacceptable attacks on commercial shipping in the Strait of Hormuz, urging de-escalation through dialogue. Ambassador Vikram Doraiswamy highlighted the deep concern for seafarers' safety, with India contributing significantly to the global workforce. The International Maritime Organization called for coordinated action to protect civilian vessels and ensure freedom of navigation.

Asian markets saw a mixed trading day as oil prices retreated from a sharp spike fueled by Iran-Israel tensions. While South Korea and China edged higher, Hong Kong and Australia experienced declines. Wall Street also closed with modest losses. The easing of oil prices offered some market stability, though ongoing conflict concerns persist.

With the latest slide, the stock has fallen around 7.5 per cent over the past two trading sessions. The sustained pressure on ADRs points to ongoing investor unease after the sudden resignation of chairman Atanu Chakraborty.

The Indian rupee hit a record low of 93.12 against the US dollar on Friday, driven by escalating Middle East tensions and soaring crude oil prices. Despite this currency weakness, domestic equity markets staged a significant recovery. Analysts anticipate continued pressure on the rupee as foreign investors withdraw funds, potentially impacting India's growth and inflation.