Category: Beyond

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G7 warns as oil tops $110

The G7 ( Group pf 7) has signalled readiness to act as oil prices surged above $110 per barrel, following escalating tensions involving the United States, Israel, and Iran. Officials warned that the conflict could disrupt global energy supplies if fighting near the Strait of Hormuz continues, a key route for roughly one‑fifth of the world’s oil shipments.

The sharp jump in oil prices sent shockwaves through global stock markets. Major indices in Asia and Europe, including Japan’s Nikkei 225 and Hong Kong’s Hang Seng, fell steeply as investors worried about broader economic fallout from the energy squeeze.

During an emergency virtual meeting, G7 finance ministers said they were ready to take “necessary measures” to stabilise energy supplies. This could include tapping strategic oil reserves, though no immediate release was announced as further coordination with international partners is required.

Fatih Birol, head of the International Energy Agency, cautioned that global oil markets are under significant stress. Disruptions in production and shipping have heightened the risk of supply instability, he said, urging governments to monitor the situation closely.

The rise in oil prices is expected to increase fuel costs for consumers and add pressure on inflation, already a concern for many economies. Analysts warn that if the conflict continues, prices could climb even higher, affecting households and businesses worldwide.

The rise in oil prices is expected to push up fuel costs for consumers and add inflationary pressure in economies already grappling with uncertainty. Analysts caution that if the conflict continues, prices could climb further, affecting households and businesses worldwide.

Also Read: IMF Chief warns West Asia conflict could boost inflation

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Iran crisis affects LPG supply in major Indian cities

Rising geopolitical tensions in West Asia have begun to affect liquefied petroleum gas (LPG) supply in several Indian cities, disrupting availability of commercial cylinders used by restaurants, hotels and small food businesses.

Cities such as Bengaluru, Mumbai and Kolkata have reported delays in the supply of commercial LPG cylinders, raising concerns among the hospitality sector. Industry representatives said prolonged supply disruptions could affect operations of eateries and food outlets that rely heavily on LPG for daily cooking.

The supply pressure comes as global energy markets remain volatile due to the ongoing conflict in West Asia. India imports a significant portion of its LPG requirements from the Gulf region, making domestic supply vulnerable to disruptions in the international market.

To manage the situation, the central government has taken steps to ensure adequate availability of cooking gas in the country. The Ministry of Petroleum and Natural Gas has directed oil refineries to increase LPG production for domestic consumption.

Officials said the move is aimed at stabilising supply and preventing shortages in the domestic market. The government has also instructed oil marketing companies to prioritise household LPG supply over commercial demand to ensure that domestic consumers do not face any major disruptions.

In addition, authorities have extended the minimum waiting period for booking an LPG refill from 21 days to 25 days. The measure has been introduced to prevent panic buying and hoarding of cylinders during the current period of supply pressure.

Industry experts said commercial establishments are more likely to face short-term supply challenges as available LPG is redirected toward domestic consumption. However, the additional production ordered by the government is expected to ease the situation in the coming weeks.

The government is also exploring alternative import options to maintain steady LPG supplies. Officials said the situation is being closely monitored and further steps may be taken if required.

Also Read: Oil prices drop below $90, airline stocks rally

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Oil prices drop below $90, airline stocks rally

Global crude oil prices fell sharply on Tuesday, slipping below the $90 per barrel level after recent spikes caused by tensions in the Middle East. The decline came as market sentiment improved following signals that the conflict involving Iran could ease, reducing fears of major disruptions to global oil supply.

Comments from US President Donald Trump suggesting that the conflict could end soon helped calm markets. His remarks raised hopes that the situation may not escalate further, which led to a drop in oil prices and improved investor confidence.

The fall in crude prices triggered a rally in airline stocks, particularly in India. Shares of InterGlobe Aviation, the parent company of the airline brand IndiGo, rose sharply during the session. Budget carrier SpiceJet also saw its shares surge as investors reacted positively to lower fuel costs.

Airline companies are highly sensitive to movements in oil prices because aviation turbine fuel forms a large part of their operating expenses. When crude prices fall, airline fuel costs decline, which improves profitability prospects for the sector.

Crude prices had surged earlier amid fears that escalating tensions in the Middle East could disrupt supply from the region, one of the world’s largest oil-producing areas. At one point, oil prices had moved close to $120 per barrel, triggering concerns across global financial markets.

However, the recent decline in prices has brought relief to investors and several industries that depend heavily on fuel. Lower oil prices can help reduce operational costs for sectors such as aviation, transportation and logistics.

The drop in crude prices also lifted global equity markets. Major Asian indices, including Japan’s Nikkei 225, South Korea’s Kospi, and Hong Kong’s Hang Seng Index, traded higher as investors welcomed the easing energy price concerns.

Market experts say oil prices are likely to remain volatile as geopolitical developments continue to influence supply expectations. Any fresh escalation in the Middle East could quickly push prices higher again.

Also Read: Rupee falls to record low of 92.35 against dollar

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Rupee falls to record low of 92.35 against dollar

Rupee fell to a record low against the US dollar, touching 92.35 in recent trading sessions as global economic factors and rising crude oil prices put pressure on the currency.

In the interbank foreign exchange market, the rupee weakened sharply during the session and hit the new all-time low of 92.35 against the dollar. The fall reflects growing pressure on emerging market currencies amid global uncertainty.

One of the key reasons behind the rupee’s decline is the rise in international crude oil prices. India imports a large share of its crude oil requirements, and higher oil prices increase the country’s import bill. This leads to higher demand for dollars to pay for imports, which in turn weakens the rupee.

The strength of the US dollar in global markets has also contributed to the fall. Investors often move their funds to the dollar during periods of uncertainty, as it is considered a safer asset. As demand for the US currency rises, other currencies including the rupee tend to weaken.

Foreign fund outflows from Indian equity markets have further added to the pressure on the rupee. When foreign investors sell Indian assets and withdraw money from the market, demand for dollars increases, pushing the rupee lower.

Geopolitical tensions in West Asia have also influenced currency movements. Rising tensions in the region have led to volatility in global financial markets and a surge in crude oil prices, both of which affect the Indian currency.

However, the rupee showed a slight recovery in early trade on the following day. It opened stronger at around 92.11 against the US dollar, supported by some improvement in market sentiment.

Currency experts say the rupee may continue to remain volatile in the near term.

Also Read: Gold slips to ₹1.61 lakh, Silver falls to ₹2.79 lakh

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Gold slips to ₹1.61 lakh, Silver falls to ₹2.79 lakh

Gold and silver prices witnessed a slight decline in early trade on Tuesday, reflecting a minor correction in the bullion market after recent gains. The price of 24-carat gold slipped by ₹10 to ₹1,61,670 per 10 grams, while silver dropped by ₹100 to ₹2,79,900 per kilogram.

The price of 22-carat gold also fell marginally by ₹10, bringing it down to around ₹1,48,190 per 10 grams. Despite the small dip, gold continues to trade near record levels following strong demand in recent weeks.

Across major Indian cities, gold prices remained largely steady with only slight variations. In cities such as Mumbai, Bengaluru and Hyderabad, 24-carat gold was priced at around ₹1,61,670 per 10 grams. In Delhi, the price was slightly higher at about ₹1,61,820 per 10 grams. Chennai and Kolkata recorded relatively higher prices, with gold trading above ₹1,63,000 per 10 grams.

Silver prices also edged lower during the session. The white metal declined by ₹100 to ₹2,79,900 per kilogram in the domestic market. However, prices remain elevated compared with earlier levels, reflecting strong investor interest in precious metals.

The recent movement in bullion prices comes after a sharp rally driven largely by global uncertainties. Ongoing geopolitical tensions in the Middle East have pushed investors toward safe-haven assets such as gold and silver. During times of uncertainty, precious metals often attract higher demand as they are considered relatively stable investments.

At the same time, fluctuations in the US dollar and global commodity markets continue to influence domestic bullion prices. Market experts note that small corrections are common after a strong rally, as some investors choose to book profits.

Also Read: Sensex surges 800 points, Nifty reclaims 24,200

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Kuwait cuts oil output due to Hormuz tensions

Kuwait has reduced its oil production and refinery operations after shipping activity slowed in the Strait of Hormuz, one of the world’s most important oil transit routes. The decision comes as rising tensions in the Middle East disrupt tanker movement and create uncertainty in global energy markets.

Officials said Kuwait took the step as a precaution because fewer oil tankers are currently able to pass safely through the strategic waterway. The slowdown in shipments has affected the flow of crude oil from the Gulf region to international markets.

The Strait of Hormuz connects the Persian Gulf with the Arabian Sea and is considered a crucial passage for global energy trade. Around one-fifth of the world’s oil supply normally moves through this narrow route. Any disruption there can quickly impact global oil prices and supply chains.

Recent tensions involving Iran, the United States, and Israel have increased security concerns in the region. As a result, tanker traffic has slowed significantly, prompting several oil-producing countries to reassess their production levels.

Kuwait, a member of the Organization of the Petroleum Exporting Countries, decided to scale back both crude production and refining operations until the situation becomes clearer. The move is aimed at avoiding excess supply while exports remain uncertain.

The disruption has already affected global oil markets. International crude prices have risen sharply, with Brent crude crossing $100 per barrel amid fears that prolonged tensions could further reduce supply from the Gulf region.

The situation could have wider economic consequences, especially for countries that rely heavily on imported oil. For example, India imports a large share of its crude oil from Gulf nations, and much of it passes through the Strait of Hormuz. Any prolonged disruption in this route could increase fuel costs and put pressure on the country’s economy.

The current developments highlight how geopolitical tensions in the Middle East can quickly affect global energy markets. If tanker traffic continues to remain slow, oil prices may stay elevated, potentially increasing inflation and energy costs worldwide.

Also Read: OpenAI robotics head quits over Pentagon AI deal

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Rupee falls to 92.28 per dollar

Indian rupee weakened sharply against the US dollar on Monday. In early trade, the rupee fell about 46 paise to ₹92.28 against the US dollar, moving close to its all-time low levels. The decline came as global markets reacted to rising oil prices and increased uncertainty in the Middle East.

Forex traders said the main reason for the rupee’s weakness was the sharp rise in crude oil prices. Brent crude crossed the $100 per barrel mark, raising concerns about higher import costs for India. Since the country depends heavily on imported oil, any increase in global prices significantly raises demand for dollars from oil companies, putting pressure on the rupee.

The stronger US dollar also contributed to the fall in the Indian currency. During periods of global uncertainty, investors tend to move their funds into safer assets such as the US dollar, which leads to weakness in emerging market currencies like the rupee.

Market experts also pointed to foreign fund outflows and weakness in domestic equity markets as additional factors weighing on the currency. Indian stock markets saw heavy selling during the session as investors reacted to the spike in oil prices and geopolitical risks.

At the same time, government bond yields moved higher in the domestic debt market. Rising yields often reflect concerns about inflation and borrowing costs, especially when global commodity prices increase.

Traders said the Reserve Bank of India (RBI) is likely to keep a close watch on the currency market. If volatility increases further, the central bank may step in to stabilise the rupee by selling dollars from its foreign exchange reserves.

Analysts believe the rupee’s movement in the coming days will depend largely on global developments, particularly crude oil prices and geopolitical tensions. If oil prices remain elevated and global uncertainty continues, the rupee may stay under pressure in the near term.

Also Read: Gold slips to ₹1,63,630, silver falls to ₹2,84,900

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Gold slips to ₹1,63,630, silver falls to ₹2,84,900

Gold and silver prices declined slightly in domestic markets on Monday as a stronger US dollar weighed on bullion demand despite rising geopolitical tensions and higher crude oil prices.

In the national capital, 24-carat gold slipped by ₹10 to ₹1,63,630 per 10 grams, while 22-carat gold was priced at around ₹1,49,990 per 10 grams, according to market data. Silver also recorded a marginal fall, declining ₹100 to ₹2,84,900 per kilogram in major markets.

The small drop in precious metal prices comes amid volatility in global commodity markets. Analysts said the strengthening of the US dollar has reduced the attractiveness of gold and silver for international investors. When the dollar rises, bullion becomes more expensive for buyers using other currencies, which often leads to weaker demand.

At the same time, geopolitical tensions have increased following the ongoing conflict involving the United States and Iran. The tensions have pushed global crude oil prices sharply higher, with Brent crude crossing the $100 per barrel mark. Rising oil prices have triggered concerns about global inflation and economic uncertainty.

Normally, geopolitical tensions and economic uncertainty tend to boost demand for safe-haven assets such as gold. However, analysts say the strong dollar and expectations of higher interest rates have limited gains in bullion prices.

In the international market, gold prices also slipped during Asian trading hours, while silver registered sharper losses. Reports indicate that gold declined by more than 2 per cent globally, while silver dropped over 3 per cent as commodity markets reacted to the surge in oil prices and currency movements.

There is a close watch on the global macroeconomic developments, including the strength of the US dollar, inflation trends and crude oil price movements. These factors are expected to play a key role in determining the near-term direction of bullion prices.

Also Read: Sensex tanks over 2,400 points, Nifty slips below 24,000

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US loses 92,000 jobs in February 2026

The United States economy unexpectedly lost 92,000 jobs in February, raising concerns that the country’s labour market may be starting to weaken. At the same time, the unemployment rate rose to 4.4%, up from 4.3% in January, according to the latest government data.

Economists had earlier expected the economy to add new jobs during the month. Instead, the report showed a sharp drop in employment, suggesting that companies may be becoming more cautious about hiring.

Several sectors recorded job losses. The healthcare sector saw a significant decline in employment, partly due to labour strikes and disruptions in some medical services. Other industries such as manufacturing, transportation and information services also reported fewer jobs, reflecting slower business activity and economic uncertainty.

The data also showed that about 7.6 million people are currently unemployed in the United States. Meanwhile, the labour force participation rate, which measures the share of people either working or actively looking for work, remained around 62%.

Despite the fall in employment, wages continued to rise slightly. Average hourly earnings increased compared to last year, showing that some companies are still raising pay in order to keep workers. This suggests that while hiring may be slowing, demand for skilled workers remains relatively steady.

Some experts believe the drop in jobs may have been influenced by temporary factors, including strikes and severe winter weather that disrupted business activities in some parts of the country. However, others say the report could be a sign that the strong job market seen in recent years is gradually cooling.

The weaker labour data has also drawn attention from policymakers. The US Federal Reserve closely watches employment figures when deciding on interest rates and economic policy. A slowdown in hiring could increase pressure on the central bank to support economic growth.

Also Read: Sundar Pichai’s pay package may reach $630 mn

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Qatar flags risk to global oil, gas supplies

Qatar has warned that energy exports from the Gulf region could be disrupted within weeks if tensions between the United States and Iran continue to rise.

Speaking about the growing conflict in the Middle East, Qatar’s Energy Minister Saad al-Kaabi said the situation could threaten the movement of oil and natural gas from the region to the rest of the world. If the conflict escalates further, shipping routes and energy facilities may become unsafe, forcing Gulf countries to temporarily stop exports.

The Gulf region plays a crucial role in the global energy market. A large share of the world’s oil and liquefied natural gas (LNG) passes through the Strait of Hormuz, a narrow but extremely important shipping route. Any disruption in this area can quickly affect global energy supplies and prices.

Qatar is one of the world’s largest exporters of LNG and supplies natural gas to several countries across Asia and Europe. Officials say the ongoing conflict has already created uncertainty for energy shipments in the region.

Energy experts warn that if the situation worsens, it could lead to serious disruptions in global oil and gas markets. A long conflict could push fuel prices higher and affect transportation, electricity costs and industrial production in many countries.

Countries that depend heavily on imported fuel could feel the impact the most. Higher energy prices could also increase inflation and make daily living costs more expensive for people around the world.

The warning from Qatar comes at a time when tensions in the Middle East remain high due to military actions and threats of further attacks. Governments and global markets are closely watching developments in the region.

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