Topic
middle east crisis
Commodities Crude Heads for Biggest Weekly Gain in Months Amid Intensifying Middle East Crisis
Crude oil prices surged on Friday, with Brent and WTI heading for their biggest weekly gains in three months as US military strikes on Iran intensified. The escalation, which resumed less than a month after a June 17 ceasefire agreement, has revived fears over the Strait of Hormuz and potential supply disruptions.
Trade Corporate India Faces Lower Profit Hit as US-Iran Truce Holds, Crisil Says
Crisil Ratings now expects a 100-basis-point decline in operating margins for corporate India in fiscal 2027, halving its earlier estimate of 200 bps, following the US-Iran ceasefire and reopening of the Strait of Hormuz. Only 10 of 34 sectors are seen vulnerable, down from 22. Sectors like airlines and ceramics remain under pressure, while oil marketing companies and fertiliser makers stand to benefit.
Commodities Energy security during Middle East crisis: Why India keeps relying on state-run oil firms despite privatisation bids
India's state-run oil marketing companies (OMCs) — IOC, BPCL, and HPCL — played a critical role in maintaining fuel supplies during the Middle East conflict, absorbing a 50% surge in global crude prices and preventing rationing. The crisis reinforced the strategic importance of these firms, which had twice been slated for privatisation, as they leveraged strategic reserves, reconfigured refineries, and coordinated logistics to shield consumers.
Trade India Exports Hit Record $863 Billion in FY26 Despite US Tariffs and West Asia Crisis
India's total exports reached an all-time high of $863 billion in the 2025-26 fiscal year, nearly doubling from about $441 billion a decade ago, despite disruptions from US tariffs and the West Asia conflict, according to a senior Commerce Ministry official. Engineering goods, petroleum products, electronics, pharmaceuticals, gems and jewellery, and chemicals were key drivers, with Gujarat contributing nearly $110 billion. The government continues to promote special economic zones (SEZs) including a new Tata Semiconductor unit in Dholera.
Business India Government Sees GDP Momentum Intact, No Extra Borrowing Needed Despite Middle East Crisis
The Indian government remains confident in its growth outlook despite rising fuel and fertiliser import costs from the Middle East crisis, with sources saying GDP momentum is intact and no additional borrowing is needed. The government targets a fiscal deficit of 4.3% of GDP for FY27 and plans to reassess macroeconomic conditions in July after Q1 growth data.
Commodities Oil Prices Jump Over 3% as Iran-Israel Conflict Resumes, Straits of Hormuz Threatens Supply
Oil prices surged more than 3% on Monday as the Middle East crisis crossed 100 days with renewed Iran-Israel hostilities. WTI crude rose to $93.87/barrel and Brent to $96.36/barrel. OPEC+ approved a 188,000 bpd output increase for July, but analysts doubt it will ease supply fears due to the Strait of Hormuz blockade.
Finance RBI MPC Meeting: Rate Decision Amid Inflation and Geopolitical Tensions
The Reserve Bank of India's MPC is expected to maintain the repo rate amid inflation concerns and geopolitical tensions. Economists predict potential rate hikes later in FY27.