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Oil surges after Trump rejects Iran terms

Global crude oil prices jumped sharply on Monday after US President Donald Trump dismissed Iran’s latest ceasefire proposal, deepening concerns over a prolonged conflict in West Asia and possible disruptions to global oil supplies.

Brent crude crossed the $105-per-barrel mark, while US crude prices moved closer to $100 as traders reacted to rising geopolitical uncertainty. Market fears intensified over the continued disruption in the Strait of Hormuz, a critical shipping route through which a major portion of the world’s oil supply passes.

Iran’s response to the US-backed peace proposal included demands for sanctions relief, compensation for damages caused during the conflict, and broader guarantees regarding regional security. Trump reportedly rejected the terms, calling them unacceptable and indicating that negotiations remained far from a breakthrough.

The developments have reduced hopes of an immediate ceasefire and triggered fresh worries about stability in the Gulf region. Reports of continued drone attacks and military activity across parts of West Asia further added to market anxiety.

Energy markets responded quickly to the uncertainty. Analysts said fears of reduced oil movement through the Strait of Hormuz could tighten global supplies and push fuel prices even higher in the coming weeks. Countries heavily dependent on oil imports, including India, are expected to feel the pressure more sharply if prices continue rising.

The surge in crude prices has also renewed inflation concerns globally. Higher fuel costs could increase transportation and manufacturing expenses, potentially affecting consumer prices and slowing economic growth.

Financial markets across the world remained cautious following the developments. Investors moved towards safer assets such as gold and the US dollar, while equity markets witnessed volatility amid concerns over rising energy costs.

Also Read: Gold at ₹1.52 lakh, silver at ₹2.74 lakh

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Trump hosts Crypto event as meme coin crashes

US President Donald Trump hosted leading investors of his $TRUMP cryptocurrency at Mar-a-Lago in Florida, holding an exclusive event for top token holders. Reports said around 297 investors attended, with some invited to a VIP gathering.

The event came even as the meme coin has lost more than 95 percent of its value from earlier highs. Critics questioned the ethics of Trump’s links to crypto businesses while holding office. Supporters said the gathering reflected continued interest from wealthy backers.

Retail investors, however, have suffered heavy losses as the token’s value sharply declined.

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Trump pauses Iran strikes for 2 weeks

US President Donald Trump has announced a two-week pause in military strikes against Iran, aiming to ease tensions and allow negotiations. The suspension is conditional on Iran reopening the Strait of Hormuz, a key global oil route.

The move follows mediation efforts led by Pakistan and signals willingness from both sides to pursue diplomacy. The conflict, involving US, Israel, and Iran, had disrupted oil supplies and raised regional tensions. After the announcement, oil prices fell and markets stabilised slightly.

While some leaders welcomed the step, concerns remain over unresolved issues. The two-week period is seen as critical for further talks.

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Trump’s signature to appear on US currency

In a notable policy shift, the United States Treasury has approved a change in currency design that will introduce Donald Trump’s signature on new US banknotes, replacing the long-standing inclusion of the US Treasurer’s signature.

The decision marks the end of a 165-year-old convention, under which US currency carried the signatures of both the Treasury Secretary and the Treasurer. Going forward, new notes will feature the signature of the President alongside that of the Treasury Secretary, reflecting a significant departure from established practice.

The rollout is expected to begin with the $100 bill from June 2026, with other denominations to follow in phases. Existing currency will continue to remain legal tender and circulate alongside the newly issued notes, ensuring no immediate disruption to the financial system.

Officials have positioned the move as part of a broader symbolic refresh tied to the 250th anniversary of US independence, framing it as a design evolution rather than a structural change. Importantly, the update does not alter any functional or security features of the currency.

From a market and institutional perspective, the impact is expected to be limited. Analysts note that the change is largely cosmetic and does not affect monetary policy, currency valuation, or the role of the US dollar in global markets. However, it does signal a shift in how national identity is reflected in financial instruments.

The decision has generated mixed reactions. Supporters view it as a modernisation step aligned with national milestones, while critics argue it breaks with long-standing institutional norms designed to keep currency design politically neutral.

Also Read: Petrol duty reduced to ₹3, diesel to zero

 

 

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Oil prices drop on Iran negotiation talks

Global oil prices declined after Donald Trump signalled possible progress in negotiation talks with Iran, raising hopes of easing tensions in West Asia.

Trump indicated that discussions were moving in a positive direction, leading markets to expect a potential reduction in risks to oil supply. The remarks triggered a drop in crude prices, which had recently surged due to fears of prolonged conflict in the region.

Key benchmarks such as Brent crude and US West Texas Intermediate fell following the comments. Prices had earlier climbed sharply amid concerns that tensions could disrupt shipments through critical routes like the Strait of Hormuz, a major artery for global oil transport.

The decline was further supported by indications that immediate military escalation may be avoided. Reports suggested that potential strikes on Iranian energy infrastructure were delayed, easing fears of sudden supply shocks. Oil markets, which are highly sensitive to geopolitical developments, responded quickly to these signals.

However, uncertainty continues to cloud the outlook. Iranian officials have denied that formal negotiations are underway, raising questions about the likelihood of a quick resolution. This has kept volatility high, with traders remaining cautious.

Recent trends highlight how rapidly oil prices can shift based on political developments. After reaching elevated levels due to supply concerns, prices have now retreated on hopes of diplomatic progress.

The fall in oil prices has also supported global financial markets, as lower energy costs help ease inflationary pressures and support economic growth.

Also Read: Rupee falls 20 paise to 93.76, nears 94

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$580mn oil bet before Trump post raises questions

A large $580 million bet in global oil markets placed shortly before a public statement by Donald Trump has raised concerns over possible insider trading and market fairness. The trades were executed minutes before Trump shared an update about easing tensions with Iran, triggering sharp movements across financial markets.

The bets were made in oil futures just 10–15 minutes before Trump posted on social media about “productive” talks with Iran and a pause in potential US military action. Soon after the announcement, crude oil prices dropped quickly, allowing those who placed bearish bets to make significant profits.

The timing has drawn attention because of the scale and precision of the trades. Market analysts say it is unusual for such large positions to be taken so close to a major geopolitical announcement without some level of prior expectation. While there is no confirmed evidence of wrongdoing, the sequence of events has prompted speculation about whether certain traders had advance information.

The announcement also had a wider impact on global markets. US stock futures rose as investors reacted positively to signs of reduced geopolitical risk, while oil prices saw a sharp decline due to expectations of stable supply. This quick shift highlights how sensitive markets are to developments in regions like the Middle East, where tensions directly influence energy prices.

It is said that geopolitical signals, especially those involving countries like Iran, often lead to sudden and large price swings. In such an environment, even small informational advantages can translate into massive financial gains.

The incident has renewed debate around transparency and regulation in global financial markets. Observers are calling for closer scrutiny of trading patterns around major political announcements to ensure a level playing field for all investors.

Although no official investigation has been announced so far, the scale and timing of the trades are likely to attract regulatory attention.

Also Read: IndiGo appoints ex-Air India Express head as CSO

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Reliance silent after Trump’s $300bn refinery claim

Donald Trump has announced a proposed $300-billion oil refinery project in Texas, saying India’s Reliance Industries would support the investment. The refinery is planned at the Port of Brownsville and would be built by America First Refining. Trump described it as a major energy project that could boost US oil refining capacity.

However, Reliance has remained silent about the announcement and has not confirmed any involvement in the project. The company has not responded to media queries, creating uncertainty about the deal. Analysts say the lack of official confirmation has raised questions about the scale and details of the proposed investment.

 

 

 

 

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Corporate

Reliance backs first new US oil refinery in 50 years

US President Donald Trump has announced plans to build a new oil refinery in Texas with investment support from Reliance Industries. The refinery, planned at the Port of Brownsville, could be the first new oil refinery built in the United States in nearly 50 years.

The project is expected to have a long-term economic impact of about $300 billion. It will be developed by a company called America First Refining, with financial backing from Reliance, India’s largest private sector company.

According to Trump, the refinery will strengthen the country’s energy sector and increase domestic fuel production. He also thanked India and Reliance for their participation in the project, describing it as a major step in boosting energy cooperation between the two countries.

The facility will mainly process US shale oil and is expected to increase the country’s refining capacity. Once operational, it could help meet domestic fuel demand and also support exports.

Officials say the project could create thousands of jobs during construction and operation while also bringing economic growth to South Texas.

The announcement comes at a time when global energy markets are facing uncertainty due to geopolitical tensions and supply concerns. Expanding refining capacity is seen as an important step toward strengthening energy security.

If completed, the refinery would mark a major development for the US energy industry and highlight growing business ties between American companies and Indian firms such as Reliance Industries.

Also Read: Reliance steps up LPG output to support domestic supply

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OpenAI wins Pentagon deal as Donald Trump clashes with Anthropic

OpenAI has taken a big step into government work by signing a deal with the US Department of Defense, bringing its artificial intelligence tools closer to national defence applications. The move comes just days after President Donald Trump publicly criticised Anthropic, a rival AI company founded by former OpenAI employees, highlighting the growing tensions in the AI industry.

The agreement with the Pentagon will allow OpenAI to provide advanced AI technology and expertise for various defence projects. While the exact financial terms are not public, sources say the deal is broad in scope and emphasizes safe, responsible use of AI in government operations. It’s one of OpenAI’s largest collaborations with the US government to date.

CEO Sam Altman has been meeting with defence officials over the past months, pushing for a model where AI development and government oversight go hand in hand. “We need collaboration to make sure AI is used safely and ethically,” Altman has said, reflecting his vision of responsible innovation. This partnership aims to put those principles into practice by embedding OpenAI’s technology in programmes with strict ethical and safety standards.

The announcement comes amid a public clash between Trump and Anthropic. Trump criticised Anthropic’s leadership and suggested it was slowing down AI progress, stirring debate about competition, safety, and the government’s role in shaping the industry. OpenAI’s Pentagon deal, by contrast, signals a move toward cooperation with authorities rather than confrontation.

Also Read: Block lays off 4,000 employees due to AI shift

 

 

 

 

 

 

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Supreme Court blocks Trump’s global tariffs

The U.S. Supreme Court has struck down the bulk of former President Donald Trump’s global tariffs, ruling that he overstepped his authority by imposing wide-ranging import taxes without Congress’s consent. The 6–3 decision, announced on February 20, 2026, marks a significant setback for Trump-era trade policies that affected goods from countries across the globe.

The dispute centered on the International Emergency Economic Powers Act (IEEPA), a law meant to give the president authority in national emergencies. The court found that using it to levy broad tariffs on imports from multiple countries went beyond the law’s intent, since the US Constitution grants Congress the power to impose taxes and tariffs.

Trump’s “reciprocal tariffs” had targeted goods from major trading partners, including China, Mexico, Canada, and India, aiming to protect U.S. industries and reduce trade deficits. While the administration viewed them as essential tools for negotiating fair trade, critics challenged them as unconstitutional and disruptive to businesses and global markets.

Chief Justice John Roberts, writing for the majority, emphasized that significant economic decisions require clear congressional authorization. The court’s ruling leaves sector-specific tariffs under other trade laws, such as duties on steel and aluminum for national security, intact. Justices Thomas, Alito, and Kavanaugh dissented, believing the tariffs were within presidential authority.

The decision has major financial implications. Billions of dollars collected under the invalidated tariffs could be eligible for refunds, though the Supreme Court left details to lower courts. Businesses and exporters now face a clearer legal framework for US trade, while the White House may explore other statutory avenues to enforce parts of its trade agenda.

Also Read: OpenAI–Tata partner for 100mw AI data centre in India