All posts tagged: global oil markets

3 Major Takeaways From Latest Escalation

3 Major Takeaways From Latest Escalation

4 min readNew DelhiUpdated: Jun 8, 2026 08:09 PM IST Almost two months after a Pakistan-brokered ceasefire, Iran and Israel traded direct strikes at each other’s territories again, over Sunday night and Monday. For a while, return to full-scale war looked imminent, till Iran announced it was halting its campaign as long as Israel too kept the peace. US President Donald Trump announced on Truth Social that “Both sides, Israel and Iran, are looking to do an immediate CEASEFIRE!”. He said “final negotiations” for peace were proceeding, “subject to ignorance or stupidity getting in its way.” What was different this time was that Iran launched attacks directly on Israel in retaliation for the latter’s actions in Lebanon. As multiple conflicts rage —Israeli action in Gaza, Israeli action in Lebanon, and the US-Israel-Iran tussle, with Iran’s retaliation covering much of West Asia — what do the events of the past day say about the future of the wars? Iran entrenches Lebanon position Iran has always said that any peace deal must include Lebanon too, but the …

‘India Has Been A Great Partner’: Why US Dialled New Delhi To Purchase Russian Oil Waiting At Sea | India News

‘India Has Been A Great Partner’: Why US Dialled New Delhi To Purchase Russian Oil Waiting At Sea | India News

Last Updated:March 09, 2026, 12:24 IST The US asked India to buy Russian crude oil on ships and redirect it to Indian refineries to ease supply concerns amid the West Asia conflict, said US officials. Photo for representation. (Image: PTI File) The United States has urged India to purchase Russian crude oil already loaded on ships and redirect it to Indian refineries to ease concerns over supply disruptions and rising prices amid the ongoing West Asia conflict, US Energy Secretary Chris Wright said. Follow US-Israel-Iran War LIVE In an interview with CNN on Sunday, Wright said he and Treasury Secretary Scott Bessent had spoken to Indian authorities about acquiring Russian oil cargoes currently waiting to be unloaded at Chinese refineries. “India has been a great partner through this. I did call up the Indians, as did Treasury Secretary (Scott) Bessent, and said there’s a whole bunch of oil floating, waiting to unload at Chinese refineries,” Wright said. “Instead of having it wait six weeks to unload there, let’s just pull that oil forward, have it …

Jaishankar amid energy security concerns due to US-Iran war| India News

Jaishankar amid energy security concerns due to US-Iran war| India News

External affairs minister S Jaishankar on Monday said the government remains committed to safeguarding India’s energy security while ensuring that national interests remain the top priority, as geopolitical tensions in West Asia continue to disrupt global oil markets. S Jaishanakr made the remarks while speaking in the Rajya Sabha. (Screengrab) Speaking in the Rajya Sabha, Jaishankar said India’s approach to energy procurement will be guided by costs, risks and the availability of supply. “On energy security, the government remains committed, taking into account the costs, risk and availability of sources,” he said. He emphasised that the government will prioritise the country’s interests while navigating global uncertainties. “The interest of Indians is the top priority. Our national interests will always be paramount,” Jaishankar told the Upper House. Government monitoring energy supplies His remarks come amid rising concerns over energy supplies and prices due to the escalating conflict in West Asia, which has affected oil production and shipping routes in the region. The government has sought to reassure markets and consumers that the situation does not pose …