India has diversified its LPG imports by sourcing from the US, Iran, Argentina, Chile, France, and the Netherlands to reduce dependence on the Middle East following energy supply disruptions. Despite rising global prices, domestic consumers were shielded, though commercial users saw significant price hikes, leading to substantial losses for fuel retailers.
Israel and Hezbollah renewed a fragile ceasefire in Lebanon after 24 hours of intense violence. This occurred as a US-Iran meeting to discuss a nuclear deal was cancelled, raising regional tensions and impacting global energy markets.
Israel and Hezbollah renewed a fragile ceasefire in Lebanon following 24 hours of intense violence. The clashes, which killed at least 47 people, challenged a new US-Iran agreement aimed at ending regional conflict and securing oil traffic.
An interim agreement has halted a devastating three-month war in the Middle East, but analysts suggest Iran may have emerged with a stronger hand. The deal, seen by some as a strategic "catastrophe" for opponents, grants a 60-day window for negotiations while preserving a ceasefire.
US-Iran peace talks in Switzerland were cancelled Friday as Hezbollah killed four Israeli soldiers, prompting Israeli airstrikes in Lebanon that killed at least 18. The violence jeopardizes a recent MOU aimed at Iran's nuclear program and oil traffic.
Iran plans to introduce maritime fees in the Strait of Hormuz in two months, asserting control. A US-Iran memorandum of understanding was signed, but a formal ceremony was cancelled. Talks will focus on sanctions relief and free passage through the strait.
Donald Trump announced a 14-point deal with Iran, calling it a "major win" for the US. The agreement includes financial concessions to Iran to reopen the Strait of Hormuz and prevent global economic instability. Key terms involve lifting sanctions, unfreezing assets, and potentially a reconstruction fund.
The Trump administration announced a 14-point agreement with Iran to reopen the Strait of Hormuz, claiming a "major win" despite concessions including potential release of frozen assets and easing sanctions. The deal aims to prevent global economic depression and halt Iran's nuclear program.
BMW AG anticipates a substantial decline in pre-tax profit due to weakening demand in China and the impact of the Middle East crisis. The company has lowered its profitability targets and plans to accelerate cost-cutting measures.
US President Trump plans to refocus on ending the Russia-Ukraine conflict post-Middle East crisis. EU officials are reportedly unsettled, fearing being sidelined by direct US-Moscow negotiations. Talks stalled in March, with key disagreements over Donbass.
South Korea plans tailored job support for manufacturing, construction, and agriculture sectors due to the Middle East crisis. The country saw a 40,000 job loss in May, the first decline in 17 months, impacting youth employment.
Iran's top diplomat stated a peace deal with the US requires Israel's withdrawal from Lebanon. Concerns grow that Israel may undermine diplomatic efforts, with Donald Trump criticizing Israeli actions in Beirut as "vicious" and "irresponsible." A Hezbollah official confirmed Iran's commitment to demanding Israeli troop withdrawal.
In Sirik, Iran, residents face water shortages exacerbated by US strikes, while news of a potential US-Iran deal brings mixed reactions. Some express relief, others anger and skepticism, reflecting deep divisions within the country regarding the regime, foreign intervention, and human rights.
G7 leaders convene in France to discuss ending Russia's war in Ukraine and the Middle East crisis. Ukrainian President Zelenskyy will attend. The summit follows a US-Iran conflict resolution, with leaders aiming to ease economic impacts and reopen the Strait of Hormuz.
Global oil prices have fallen to a three-month low and stock markets have reached record highs amid optimism that a US-Iran peace deal could resolve the energy supply crisis. Brent crude dropped 4% to $83 as hopes rise for the reopening of the Strait of Hormuz.
Donald Trump announced the Strait of Hormuz will be fully open from Friday following a US-Iran deal, but G7 leaders are working to prevent the agreement from unraveling due to Israeli actions and Iran's claims on fees. The deal's details and Iran's nuclear program remain points of contention.
Israel's defense minister stated forces will not withdraw from seized territory in southern Lebanon, hours after the US and Iran announced a preliminary deal to end Middle East hostilities. The agreement, which has caused dismay in Israel, reportedly includes a Lebanon ceasefire but is seen as a setback by Israeli media and politicians.
Israel's defense minister stated forces will not withdraw from seized Lebanese territory, hours after the US and Iran announced a preliminary deal to end Middle East hostilities. The agreement, pending finalization in two months, reportedly includes a Lebanon ceasefire, sparking anger in Tel Aviv.
Global oil prices dropped to a three-month low and stock markets rallied amid optimism over a potential US-Iran peace deal that could reopen the Strait of Hormuz and ease energy supply concerns. Brent crude fell below $83 a barrel, while wholesale gas prices declined in Europe.
Fury mounts in India over US refusal to apologize for killing Indian sailors in Strait of Hormuz strikes. Leaders to meet at G7 amid strained relations, with families demanding answers and opposition criticizing PM Modi's silence.
Global oil prices dropped and stock markets surged as optimism grew for a US-Iran peace deal, potentially reopening the Strait of Hormuz and ending a major energy supply crisis. Brent crude fell below $84/barrel, while European and Asian markets rallied.
Global oil prices dropped significantly as optimism grew for a US-Iran peace deal, potentially reopening the Strait of Hormuz and restoring Gulf oil exports. Brent crude fell below $84 a barrel, reaching its lowest since early March.
US President Donald Trump urged restraint from all sides after Israel launched fresh airstrikes on Beirut, killing three. Mediators are seeking to finalize a preliminary peace deal between Iran and the US to end a three-month war, but Iranian officials threatened retaliation.
US President Donald Trump urged restraint from all sides after Israel launched fresh airstrikes on Beirut, which killed three people. The strikes occurred as mediators sought to finalize a preliminary peace deal between Iran and the US, aiming to end a three-month war in the Middle East. Iranian officials threatened retaliation, while Israeli forces claimed to target Hezbollah commanders.
