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Iran hits the world’s largest LNG hub in Qatar

Qatar’s Ras Laffan Industrial City, the world’s largest liquefied natural gas (LNG) export complex, has suffered significant damage following a missile strike attributed to Iran, raising fresh concerns over global energy supply stability and price volatility.

Qatari authorities said air defense systems intercepted most incoming missiles, but at least one strike hit critical infrastructure within the LNG facility, causing fires and operational disruption. While the fires have been contained and no casualties reported, the extent of damage to processing and export capacity remains under assessment.

The development has immediate implications for global energy markets. Qatar is among the largest LNG exporters, supplying key markets across Europe and Asia. Any prolonged disruption at Ras Laffan could tighten global gas supply, particularly at a time when demand remains elevated and supply chains are already sensitive to geopolitical risks.

Market reaction was swift. Benchmark oil and natural gas prices rose following news of the strike, reflecting concerns about potential supply constraints. Analysts indicate that even partial outages at Ras Laffan could lead to short-term price spikes and increased volatility in LNG trading markets.

The strike marks an escalation in geopolitical tensions in the Gulf, with energy infrastructure emerging as a direct target. The attack is believed to be linked to broader regional hostilities involving Iran and Israel, increasing the risk premium across energy assets and shipping routes.

From a business perspective, the incident underscores the vulnerability of concentrated energy infrastructure to geopolitical shocks. Insurers, shipping firms, and energy companies are expected to reassess risk exposure in the region. There may also be implications for long-term LNG contracts, supply diversification strategies, and investment flows into alternative energy corridors.

Qatar has condemned the strike and is expected to pursue diplomatic and strategic responses, while also working to restore full operational capacity at the facility.

Also Read: US offers ₹2.4 lakh, free flights for voluntary exit

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US offers ₹2.4 lakh, free flights for voluntary exit

The United States government has started a new programme to encourage illegal immigrants to leave the country on their own. Under this plan, people who agree to return to their home country will get a free flight and $2,600 (about ₹2.4 lakh) as financial support.

The programme is being run by the Department of Homeland Security (DHS). It is aimed at reducing the need for forced deportations, which are expensive and take more time. Officials believe that offering money and travel support will make more people choose to leave voluntarily.

Migrants who join the scheme will not be arrested or detained. Instead, they can leave the country peacefully. To apply, they need to use the CBP Home mobile app, where they can register and request help for travel and payment.

As part of the campaign, the US government shared advertisements showing famous landmarks from different countries. One of the most talked-about images featured India’s Taj Mahal, encouraging Indian migrants to return home. The message highlighted the benefits of a “fresh start” with financial help and free travel.

The campaign has received mixed reactions. Some people support the idea, saying it is a more humane and cost-effective way to manage immigration. Others have criticised it, especially the use of cultural symbols like the Taj Mahal in promotional material.

According to officials, the programme is much cheaper than forced deportation. Deporting one person can cost over $18,000, while helping someone leave voluntarily costs much less.

The amount offered has also changed over time. It started at $1,000, later increased, and is now fixed at $2,600.

Also Read: Reliance Jio picks 17 banks for IPO, no fresh funds

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Gold slips to ₹1,57,740, Silver drops to ₹2,64,900

Gold and silver prices in India fell slightly on Thursday as investors stayed cautious amid mixed global cues. On the Multi Commodity Exchange (MCX), 22‑carat gold declined by ₹10 to trade at ₹1,57,740 per kilogram, while silver dipped ₹100, reaching ₹2,64,900 per kilogram.

Globally, gold prices eased as well, with traders balancing safe‑haven demand against rising Treasury yields and strong US dollar sentiment. Non‑yielding assets like gold tend to face selling pressure when interest-bearing instruments become more attractive.

Market participants are closely watching the US Federal Reserve’s policy stance. The Fed recently kept interest rates steady but signaled that any rate cuts could be slower than expected. This approach has bolstered the US dollar and kept yields elevated, factors that generally limit gains in gold and silver.

At the same time, geopolitical tensions in the Middle East continue to influence global markets. Escalating conflicts involving the US, Israel, and Iran have kept crude oil prices high and raised concerns over inflation and economic growth. Typically, such uncertainties support bullion prices, but recent movements indicate that investors are weighing these risks against monetary policy developments.

Analysts say precious metals may remain volatile in the near term. Key drivers will include upcoming Fed announcements, crude oil price trends, and demand from major consuming markets like India.

City‑wise, gold rates showed small variations, reflecting local demand and supply conditions. Investors are advised to monitor both global cues and domestic factors, including festival season demand, which can impact physical buying.

Also Read: Sensex crashes over 1,600 points, Nifty falls below 23,300

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3 lakh metric tonne LPG stuck at Strait of Hormuz

Nearly 3 lakh metric tonnes (MT) of liquefied petroleum gas (LPG) are currently stranded in the Strait of Hormuz on six Indian‑flagged vessels, the Ministry of Ports, Shipping and Waterways has confirmed. The strait, a narrow but strategically crucial waterway connecting the Persian Gulf to the Arabian Sea, is a vital route for global energy shipments. Rising geopolitical tensions in the Gulf have severely disrupted maritime traffic, complicating deliveries of LPG destined for India.

In total, 22 Indian ships are affected in and around the strait, but six LPG carriers hold the largest share of stranded cargo—around 3 lakh MT collectively. Each LPG vessel generally carries 45,000‑50,000 MT, primarily for domestic industrial and household consumption. These delays are causing a temporary slowdown in LPG deliveries to India’s ports, though authorities are coordinating closely with port operators to manage the backlog.

Some relief has come from a few vessels that successfully navigated the strait under careful monitoring. The tanker Nanda Devi, carrying 46,500 MT of LPG, reached Vadinar at Kandla Port, where unloading operations have commenced. Another vessel, Shivalik, had earlier docked at Mundra Port, helping ease the pressure on domestic supply chains. Government sources said that storage and transshipment arrangements are being made to accommodate delayed cargo and minimize disruption.

The situation highlights broader energy security challenges for India, which relies heavily on Middle East imports for LPG and other fuels. Shipping companies are also facing operational hurdles, including high freight rates and fewer available vessels for long-haul shipments. The Ministry has emphasized that operations at central‑government‑owned ports continue, with active support to ensure cargo movement wherever possible.

Also Read: Jio may file draft IPO papers by end of March

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Rupee slips 3 paise to 92.43 against US dollar

Rupee weakened slightly on Wednesday morning, falling by 3 paise to 92.43 against the US dollar in early trade at the interbank foreign exchange market.

The rupee opened at 92.42 against the dollar and slipped marginally to 92.43 during the early session. Currency traders said the fall was mainly due to a stronger US dollar in global markets and continued outflows of foreign institutional investors (FIIs).

Market participants noted that foreign investors have been selling Indian equities in recent sessions, increasing demand for the US dollar. This has put pressure on the domestic currency. At the same time, global uncertainties and geopolitical tensions have also strengthened the dollar against several emerging market currencies, including the rupee.

Despite the weakness, the rupee’s decline was limited due to some supportive factors in the domestic market. Indian equity markets opened on a positive note, which helped prevent a sharper fall in the currency.

Another factor supporting the rupee was the slight easing of global crude oil prices. Since India imports a large portion of its oil requirements, lower crude prices reduce the country’s import bill and help support the domestic currency.

In the previous trading session, the rupee had settled at 92.40 against the US dollar after touching an intraday low of 92.47. The recent movement suggests that the currency is currently trading within a narrow range.

Also Read: Gold gains ₹1,58,090, silver trades at ₹2,75,100

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Gold gains ₹1,58,090, silver trades at ₹2,75,100

Gold prices in India remained largely steady on Wednesday, with only marginal increases across major cities, while silver witnessed a small uptick. Market participants are keeping a close watch on global geopolitical developments and the US Federal Reserve’s upcoming policy announcement, which could influence precious metal trends.

On the domestic front, 22‑carat gold traded between ₹1,58,090 and ₹1,58,100 per 10 grams in Delhi. Mumbai recorded a slightly higher range of ₹1,58,200 – ₹1,58,210. Prices for 24K gold ranged from ₹1,72,000 – ₹1,72,010 in Delhi and ₹1,72,120 – ₹1,72,130 in Mumbai. 18K gold hovered near ₹1,29,000 – ₹1,29,010 in Delhi and ₹1,29,100 – ₹1,29,110 in Mumbai.

Silver prices also saw a modest rise, trading between ₹2,75,100 – ₹2,75,200 per kilogram in Delhi, ₹2,75,150 – ₹2,75,250 in Mumbai, ₹2,75,050 – ₹2,75,150 in Kolkata, and ₹2,75,100 – ₹2,75,200 in Chennai.

Experts attribute these movements to a combination of factors. Geopolitical tensions in the Middle Eas,  including conflicts involving Israel, the US, and Iran, have kept safe-haven demand for gold and silver elevated. Meanwhile, crude oil prices crossing the $100 per barrel mark due to supply concerns in the Strait of Hormuz have added inflationary pressure, further supporting bullion.

Despite these drivers, gains were modest as investors remain cautious ahead of US monetary policy signals. Analysts note that higher interest rates could reduce the appeal of non-yielding assets like gold, while silver’s dual role as an industrial and investment metal makes it more sensitive to market sentiment.

Also Read: Sensex jumps to 76,300, Nifty rises above 23,700

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Japan releases emergency oil reserves

Japan has started releasing oil from its emergency reserves as rising tensions in the Middle East threaten global energy supplies. The decision comes amid fears that the ongoing war involving Iran could disrupt crude shipments and push fuel prices higher worldwide.

The Japanese government allowed oil refiners and trading companies to use part of their stockpiles after reducing the mandatory reserve requirement for private companies. The requirement was lowered from 70 days to 55 days, freeing up significant volumes of oil for immediate use.

Officials said the measure is intended to stabilise domestic fuel supplies and prevent shortages if imports are affected by the conflict. Japan relies heavily on imported oil, most of which comes from the Middle East.

The government is expected to release reserves in stages. Initially, part of the oil held by private companies will be made available to the market. Government-controlled reserves may also be released later if the supply situation worsens.

The move comes as concerns grow over disruptions to shipping routes in the region, particularly through the Strait of Hormuz. The narrow waterway is one of the world’s most important oil transit routes, with about one-fifth of global oil supply passing through it.

Any interruption to shipping in the strait could have serious consequences for global energy markets. Recent tensions and military activity in the region have already increased uncertainty about the safety of tanker movements.

Oil prices have surged amid the crisis, with markets reacting to fears of reduced supply. Several countries are closely monitoring the situation and considering measures to protect their energy security.

Energy experts say releasing strategic reserves can help reduce short-term supply pressure and calm markets. However, they warn that the step alone may not solve the problem if the conflict continues and transport routes remain unstable.

Japan maintains large emergency oil reserves specifically for situations such as natural disasters, supply disruptions or geopolitical crises. The current release is aimed at ensuring that industries, transport services and households continue to have stable access to fuel.

Also Read: Global oil prices jump over 2%

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Global oil prices jump over 2%

Global oil prices rose by more than 2% on Tuesday as growing tensions in the Middle East increased fears of disruptions to global energy supplies. Markets reacted to the ongoing conflict involving Iran and the risk it poses to oil shipments passing through the Strait of Hormuz, one of the world’s most important energy routes.

Benchmark crude prices moved sharply higher during trading. Brent crude climbed to around $102–$103 per barrel, while U.S. West Texas Intermediate (WTI) crude approached $96 per barrel. The increase reflects rising concerns among traders that the conflict could restrict oil exports from the Gulf region.

The Strait of Hormuz is a crucial shipping corridor connecting major oil-producing countries in the Middle East to global markets. Nearly one-fifth of the world’s oil supply normally moves through this narrow passage. Any disruption in the route can quickly affect global oil availability and push prices upward.

Recent developments in the region have heightened market anxiety. Reports of attacks targeting shipping and energy infrastructure near key Gulf oil hubs have raised fears that the conflict could expand and further disrupt supply chains. The situation has also slowed tanker movement in the area, creating uncertainty for exporters and buyers.

Some Gulf producers have already been affected by the disruption. Reduced shipments and logistical challenges have forced certain producers to scale back production temporarily. This has added to concerns that global oil supplies could tighten if the conflict continues.

Energy analysts say the situation remains highly uncertain and markets are reacting to the risk of further escalation. If tensions persist or shipping through the Strait of Hormuz remains restricted, oil prices could remain volatile in the coming weeks.

There are also discussions among major energy organizations about possible measures to stabilize the market. One option being considered is the release of oil from strategic reserves to offset potential supply shortages.

The Middle East plays a central role in global energy supply, and prolonged instability in the region can have wide economic impacts. Higher oil prices could increase fuel costs and add inflationary pressure in many countries.

Also Read: Rupee settles at 92.42 against US dollar

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Rupee settles at 92.42 against US dollar

Rupee declined against the US dollar in early trade on March 17 but later recovered some of the losses to end the day at 92.42 per dollar in the domestic foreign exchange market.

At the interbank forex market, the rupee opened around 92.35 against the US dollar and soon weakened further, falling 14 paise to 92.42 during the initial trading session. The early decline was mainly driven by global and domestic factors that continued to pressure the local currency.

Forex market participants said the fall in the rupee was influenced by rising global crude oil prices, which increase India’s import bill and often weaken the domestic currency. In addition, foreign institutional investors (FIIs) continued to pull funds out of Indian equities, adding further pressure on the rupee. A stronger US dollar in international markets also weighed on the Indian currency during the day’s trading.

Despite the early weakness, the rupee managed to recover some ground later in the session. The domestic currency eventually closed at 92.42 per dollar, about 4 paise stronger than the previous closing level of 92.46. Traders said the recovery helped limit the overall losses for the day.

Market experts noted that possible intervention by the Reserve Bank of India (RBI) through state-owned banks may have supported the rupee and prevented a sharper fall. The central bank often steps in to stabilise the currency when there is excessive volatility in the forex market.

Global developments also continue to influence the movement of the rupee. Geopolitical tensions in West Asia have pushed up crude oil prices in recent weeks, raising concerns for oil-importing countries like India. Higher oil prices typically increase demand for dollars, which can weaken the rupee.

Also Read: Gold at ₹1.57 lakh, Silver at ₹2.69 lakh

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Gold at ₹1.57 lakh, Silver at ₹2.69 lakh

Gold and silver prices in India witnessed a slight decline on March 17, with both precious metals slipping marginally in domestic markets. The fall comes amid mixed global cues, as investors remain cautious while monitoring geopolitical developments and economic signals influencing bullion prices.

According to market data, the price of 24-carat gold dipped by ₹10 to ₹1,57,410 per 10 grams, while 22-carat gold also fell by ₹10 to ₹1,44,290 per 10 grams. Meanwhile, silver prices declined by ₹100, bringing the rate down to ₹2,69,900 per kilogram. Despite the minor drop, prices continue to remain at relatively high levels and are moving within a narrow range in recent sessions.

City-wise rates show minor variations across major markets. In Delhi, 24-carat gold was priced at ₹1,57,560 per 10 grams, while 22-carat gold stood at ₹1,44,440 per 10 grams. In cities such as Mumbai, Kolkata, Bengaluru and Hyderabad, 24-carat gold was trading at ₹1,57,410 per 10 grams and 22-carat gold at ₹1,44,290 per 10 grams.

Prices in Chennai were comparatively higher than other metro cities. Here, 24-carat gold was quoted at ₹1,60,470 per 10 grams, while 22-carat gold stood at ₹1,47,090 per 10 grams. Silver in most cities was priced at ₹2,69,900 per kg, whereas in Chennai the metal was trading higher at ₹2,75,900 per kg.

Bullion markets continue to be influenced by global developments. Internationally, gold prices have been fluctuating amid changing economic conditions, currency movements and investor sentiment. A weaker US dollar has provided some support to gold prices, while concerns related to global economic trends and geopolitical tensions have kept markets cautious.

Also Read: Sensex rises 300+ points, Nifty nears 23,500