GULF COUNTRIES ENERGY
UAE asks US for a wartime financial lifeline as Iran conflict drags: Report
The United Arab Emirates is in discussions with the United States regarding a potential financial backstop. This measure is being considered in anticipation of a deepening crisis stemming from the Iran war. UAE Central Bank Governor raised the possibility of a currency-swap line with US Treasury officials.
Tehran says restrictions on Iranian oil come with a price
Iran's top official warned global fuel prices will remain unstable unless pressure on its oil exports ceases. He stated a free oil market is essential for everyone's security. Oil prices surged as tensions between Iran and the US disrupted tanker traffic in the Strait of Hormuz.
IMF, World Bank meetings show limits in mitigating shocks, reliance on US for solutions
Global finance leaders met amid Middle East war news. They acknowledged their limited ability to counter economic damage from frequent geopolitical shocks. Reliance on U.S. leadership for crisis resolution is no longer assured. The IMF and World Bank pledged aid to developing nations. Officials expressed frustration with ongoing economic calamities.
Greek, Indian tankers U-turn before Hormuz amid reopening doubt
Several oil tankers have turned back in the Persian Gulf. This follows Iran's mixed signals on keeping the Strait of Hormuz open. Shipowners are uncertain about transit. Five Greek and Indian tankers halted journeys early Saturday. Warnings were reportedly broadcast over radio. The situation creates confusion for global oil trade.
US extends waiver allowing India and other countries to buy Russian oil
The Donald Trump administration has issued a short-term waiver allowing countries to continue buying sanctioned Russian oil loaded on ships until May 16, aiming to stabilise global energy prices amid the US-Israeli war on Iran.
LNG ships move toward Hormuz after Iran says Strait is open
Liquefied natural gas tankers are approaching the Strait of Hormuz, potentially resuming vital fuel flows after Iran declared the strait open. This follows a period of effective closure that impacted global LNG supplies and prices. The situation remains uncertain as conflicting statements from Iran and the US persist, with insurance responses also a key factor.
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UAE envoy to India flags 2,890 strikes on civilian infra since Feb 28, says 4 million Indian expats integral to nation
The UAE ambassador has reported 2,890 missile and drone attacks. He called these unprovoked strikes and urged stronger international action. The UAE faced these attacks despite not being a direct party to the conflict. These incidents threatened regional stability. UAE air defence systems intercepted most incoming threats. International bodies have called for accountability and reparations.
Sri Lanka among worst impacted countries in Asia-Pacific due to West Asia conflict: UN report
In light of the West Asia crisis, a recent UN report underscores the profound economic challenges facing Sri Lanka. The country is grappling with dwindling export connections to the Gulf, while migrant workers are leaving for the Middle East in droves. Tourist footfall has experienced a significant decline, and the ramifications are dire, particularly for the tea export sector.
Europe has 'maybe 6 weeks of jet fuel left', energy agency head warns
Europe faces a critical shortage of jet fuel, with only about six weeks of supply remaining, according to the IEA head. The ongoing Iran war and blocked Strait of Hormuz threaten global energy supplies, potentially leading to flight cancellations and severe economic repercussions, especially for developing nations.
Europe may run out of jet fuel in 6 weeks: Why IEA warns Europe could face flight chaos as Iran war sparks a global energy crisis
Europe jet fuel shortage: Europe faces a potential six-week jet fuel shortage due to ongoing supply blockages from the Iran war, raising concerns about flight cancellations. The International Energy Agency warns of the largest energy crisis ever, with restricted Strait of Hormuz access impacting global economic growth and inflation through rising fuel prices.
Can Iran legally put a price on passage through the Strait of Hormuz?
Iran’s move to charge tolls on ships passing through the Strait of Hormuz has sparked a legal and geopolitical debate. Under international law, particularly UNCLOS, vessels are entitled to “transit passage” through key straits without interference, making unilateral tolls highly contentious. While Iran argues it can regulate movement within its territorial waters, most experts view such charges as inconsistent with established maritime norms.
India's monthly LPG imports halve, domestic output falls
India's cooking gas imports have significantly dropped this month. This follows a similar trend in March. Domestic production has also decreased. These factors are creating a tight supply situation for LPG. Disruptions in energy flows from the Gulf are impacting global markets. India is seeking alternative suppliers, but options are limited.
Global growth needs unconstricted energy markets: Jaishankar on Hormuz disruption
India is pushing for safe passage for ships. Attacks on merchant vessels are unacceptable. Global growth needs open energy markets. India will work with partners to build strong supply chains. Japan launched a new initiative to help Asian countries facing fuel shortages. This plan offers financial aid to secure energy supplies and diversify sources.
Despite Trump's naval blockade, Iran has not run out of cards
Iran warns it could block vital shipping lanes including the Persian Gulf, Sea of Oman, and Red Sea. This move escalates tensions with the US amid ongoing talks. Pakistan is mediating to prevent further conflict. Iran's threat highlights its asymmetric capabilities to disrupt global trade and raise costs for all involved.
Attacks on merchant shipping completely unacceptable, says Jaishankar amid West Asia situation
India's External Affairs Minister S Jaishankar has strongly backed safe and unimpeded maritime shipping. He stated that attacks on merchant vessels are unacceptable. This comes as India engages diplomatically on the West Asia conflict. The minister also highlighted India's commitment to energy market supply chain resilience. India is closely monitoring developments in the region.
L&T ships another steam generator early to Nuclear Power Corporation
Larsen & Toubro has dispatched its seventh 700 MWe steam generator to Nuclear Power Corporation of India Ltd ahead of schedule, aiming to accelerate India’s energy security push, with the equipment manufactured at its Gujarat facilities.
US-Iran conflict: Chinese President Xi calls to respect sovereignty of all countries in West Asia, Gulf Region
President Xi Jinping of China has urged respect for the sovereignty and security of West Asian and Gulf nations. He called for a sustainable security framework and adherence to international law. This comes as the UAE Crown Prince visits China amid regional conflicts. China advocates for an end to hostilities and unimpeded passage through the Strait of Hormuz.
Trump’s Hormuz blockade: What’s at stake amid global chaos and ripple risks for India
A US-led naval blockade on Iran has sharply escalated tensions around the Strait of Hormuz, threatening global oil flows, trade routes and geopolitical stability. Oil prices have surged past $100 as shipping risks, insurance costs and supply disruptions ripple across markets. While enforcement remains complex and legally contested, the bigger risk lies in escalation and second-order effects—especially for importers like India, which could face higher crude prices and tighter supply as global demand reshuffles.
Oil prices fall as US-Iran dialogue hopes ease supply concerns
Oil prices dropped as talks between the U.S. and Iran offered hope for de-escalation. This eased worries about supply disruptions from the U.S. blockade of the Strait of Hormuz. Brent and WTI crude futures saw declines. Analysts suggest tight oil balances could keep prices elevated. International bodies urged nations to avoid hoarding energy supplies.
Peak oil price likely to come 'in next few weeks,' US Energy secretary says
Oil prices are likely to peak in the coming weeks as shipping traffic gradually resumes through the Strait of Hormuz, US Energy Secretary Chris Wright said on Monday.
'Don't meddle in our affairs': China backs Iran, warns US against interference after Hormuz blockade
China has backed Iran and warned against outside interference following the US announcement of a naval blockade on maritime traffic linked to Iranian ports. Beijing confirmed its vessels continue to operate in the Strait of Hormuz, stressing its economic ties and commitment to honouring agreements with Tehran.
Gulf storm: India should be evaluated as a strategic locational hedge for co-sharing GCC data centre infra
Recent attacks on cloud data centers in West Asia highlight a new geopolitical risk. Hyperscale providers are now reassessing their global infrastructure. India offers a secure and stable environment for data center expansion. Its robust policies and existing ties with the Gulf region make it a natural strategic partner.
Trump's Naval blockade of Hormuz is an economic warfare, harms global economy
America threatens a naval blockade in the Strait of Hormuz. This marks a move from diplomacy to economic warfare. The US aims to cut Iran's oil revenue. This strategy seeks to force Iran back to negotiations. However, it carries significant risks of escalation. Global energy markets and international relations face potential instability.
India, Saudi Arabia discuss strengthening trade relations, enhancing energy supply
India and Saudi Arabia are boosting trade ties. Discussions focused on enhancing energy supply cooperation. Both nations are pushing for progress on a trade agreement with Gulf Cooperation Council countries. This comes as regional conflicts impact supply chains. India is also supporting its exports to Saudi Arabia and the wider Gulf region.
Donald Trump says US initiating move to 'clear out' Strait of Hormuz, cites global shipping security
Former US President Donald Trump stated America is beginning to clear the Strait of Hormuz. This move aims to ensure safe global energy shipments. Trump criticized other nations for not taking responsibility for securing the vital oil route. He also claimed Iran's military capabilities are significantly degraded and that oil tankers are heading to the US for crude.
Piyush Goyal holds talks with Saudi Arabia trade minister on stronger supply chains
India's Commerce Minister Piyush Goyal met with Saudi Arabia's Trade Minister Majid bin Abdullah Al Qassabi. They discussed strengthening supply chains affected by the West Asia crisis. Both ministers expressed optimism for early progress on the India-GCC Free Trade Agreement negotiations. The discussions also focused on ensuring smooth trade flows and recovering from disruptions.
India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire
An Indian LPG tanker, Jag Vikram, has successfully navigated the Strait of Hormuz, marking a significant development following a US-Iran ceasefire. This transit offers a glimmer of hope for India's crucial energy imports, with many other Indian vessels still awaiting passage. The country, heavily reliant on Gulf supplies, had previously faced disruptions.
West Asia War: India, Qatar call for end to energy supply disruptions
India's Oil Minister Hardeep Puri met Qatar's Energy Minister Saad Sherida Al-Kaabi. Both stressed ending global energy supply disruptions. Qatar reaffirmed its role as a reliable energy supplier to India. Discussions covered trade, investment, and energy ties. India is reassessing its supply situation following a ceasefire. Efforts are underway to secure the safe passage of stranded Indian vessels.
TotalEnergies shuts Saudi refinery after damage from Middle East attacks
French energy giant TotalEnergies said Friday that it had shut down a major refinery on the eastern Gulf coast of Saudi Arabia after it was damaged during the Middle East war. The Saudi energy ministry had announced Thursday "multiple attacks" recently on its oil and gas sites, including the SATORP refinery, a joint venture owned by TotalEnergies and the Saudi state-owned Aramco group.
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