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Rising tensions in West Asia and the possibility of disruption to shipping through the Strait of Hormuz could pose a serious threat to India’s tea exports to key Gulf markets, industry representatives have warned.The Tea Association of India said a large share of the country’s tea shipments to the Persian Gulf region moves through the…
Any interruption to navigation in the Strait of Hormuz poses a serious threat to international oil trade flows. Strait of Hormuz closure has sent shockwaves in global markets and with no signs of the US-Israel-Iran war de-escalating, oil prices have been climbing up. The expanding conflict in Iran has brought tanker movement through the Strait…
Oil prices spiked sharply on Tuesday as the Iran war disrupted supplies, with the Strait of Hormuz effectively closed and key energy infrastructure hit, AFP reported.The Brent North Sea crude contract, the international benchmark, jumped more than eight per cent to $85.12 a barrel, its highest level since July 2024.The main US oil contract, West…
Deadly fighting across the Middle East intensified on Tuesday as Washington urged its citizens to leave much of the region and President Donald Trump signalled the conflict with Iran could last far longer than initially projected.Powerful explosions rocked Tehran overnight as US and Israeli strikes continued for a third day. Fighter jets were heard over…
Iran’s Revolutionary Guards have declared the Strait of Hormuz closed, warning that any vessel attempting to pass will be attacked. Ebrahim Jabari, a senior adviser to the commander-in-chief of the Islamic Revolutionary Guard Corps (IRGC), said ships trying to transit the narrow waterway would be “set ablaze”.The strait, which lies between Iran and Oman, is…
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…
Recent military actions have led to reports of Iran effectively restricting movement through the Strait of Hormuz, a critical global oil and gas transit route. This has caused oil prices to surge and airlines to adjust flight paths, highlighting the strait’s immense economic significance. The Strait of Hormuz has suddenly moved from geography textbooks to…
Shipments to Africa and the Middle East together account for nearly half of India’s total rice exports. (AI image) India’s rice exports may take a hit in wake of the deteriorating situation in the Middle East – the country’s five leading export destinations are in the area! After US and Israel’s strikes on Iran, the…
Representative image (Picture credit: ANI) An oil tanker was attacked off the coast of Oman in the strategic Strait of Hormuz, injuring four crew members and forcing a full evacuation, as tensions continue to escalate after US–Israel strikes on Iran.Oman’s Maritime Security Centre said the Palau-flagged tanker Skylight was targeted about five nautical miles north…
NEW DELHI: The military strikes on Saturday put the spotlight on the Strait of Hormuz, a critical global shipping route for India and other Asian countries, prompting officials here to activate contingency plans to safeguard energy supplies, reports Atul Mathur.While keeping a close watch on the unfolding situation, they also have an eye on crude…
