Bengaluru: City residents are unlikely to get immediate relief from restaurant price hikes despite the restoration of commercial LPG supply to pre-Iran war levels. Hoteliers say they are in no position to roll back menu prices as commercial gas continues to remain expensive, even though supply has normalised.Restaurants across Bengaluru raised menu prices over the…
The West Asia region was on edge again on Friday night and Saturday morning as Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy claimed it had struck US military positions in response to American airstrikes on Iranian coastal areas. The reported retaliation marked the latest escalation threatening a fragile ceasefire reached just days ago. The IRGC’s…
Show Quick Read Key points generated by AI, verified by newsroom A cargo ship near Oman suffered damage; US blames Iran. International maritime body suspends Hormuz escort programme. Incident complicates US-Iran peace, impacts global oil markets. A fresh security scare in the Strait of Hormuz has cast doubt over the durability of the tentative peace…
AI generated image, used only for representational purpose Crude oil prices edged lower on Friday as concerns over supply disruptions eased with more oil tankers moving through the Strait of Hormuz. Around 7 am IST, Brent crude was trading at $74.95 a barrel, down 31 cents or 0.41%, while US West Texas Intermediate (WTI) crude…
Middle East oil exports to climb to 4-month high The Strait of Hormuz is slowly recovering its business after more than 100 days of disruption, with tankers once again flowing through the key passage. As the corridor is all set to get busy, Middle Eastern fuel oil exports are expected to climb to a four-month…
Crude oil prices tumbled on Thursday towards pre-war levels as tanker movement through the Strait of Hormuz picked up, easing earlier supply concerns. After surging past $126 per barrel during the Middle East crisis, oil has now fallen sharply, slipping back towards the $70 mark.Around 7 am IST, Brent crude stood at $72.90, down 1.14%…
NEW DELHI: Crude oil prices fell below the $75-per-barrel mark on Wednesday as the Strait of Hormuz reopened but are yet to return to the pre-conflict levels of $65-70 a barrel.While Brent crude traded at nearly $73.4 per barrel at the time of filing this report, the Indian oil basket — a blend of sweet-grade…
Strait of Hormuz (Image source: ANI) The United Nations’ International Maritime Organisation (IMO) has launched a large-scale operation to evacuate more than 11,000 sailors stranded in the Strait of Hormuz following the signed MoU between US and Iran to end the war.IMO Secretary-General Arsenio Dominguez, according to reports, said the operation is being carried out…
If the Iran war has changed one thing for the region, and by extension the world, it is the growing uncertainty surrounding the Strait of Hormuz. The waterway has shifted repeatedly between disruption and limited reopening in recent weeks, making one of the world’s most important energy corridors increasingly unpredictable. A temporary easing of tensions…
The US Treasury announced a sanctions waiver for Iran’s petroleum valid until August 21. (AI image) The United States on Monday granted Iran a 60-day sanctions waiver following the first round of discussions under a newly emerging peace arrangement. US Vice President JD Vance said meetings with Iranian representatives in Switzerland had created a solid…
