Mumbai, May 4 (IANS) Gold and silver prices declined up to 1 per cent on Monday amid signs of easing geopolitical tensions between the US and Iran, following remarks by US President Donald Trump.On the Multi Commodity Exchange (MCX), gold contracts for June 5 opened at Rs 1,51,150, down Rs 382 or 0.25 per cent from the previous close of Rs 1,51,532.At around 11.30 a.m., gold was trading at Rs 1,50,623, lower by Rs 729 or 0.48 per cent. The yellow metal touched an intraday low of Rs 1,50,400, a d…
Latest Strait of Hormuz News & Updates
Mumbai, May 4 (IANS) Global crude oil prices declined almost 3 per cent on Monday after US President Donald Trump said Washington would take steps to help clear vessels stranded in the Strait of Hormuz, though the lack of a breakthrough in US-Iran talks kept prices above the $100-mark.International benchmark Brent crude slipped 66 cents or 0.61 per cent to $107.51 per barrel, while US West Texas Intermediate (WTI) fell $2.83 or 2.77 per cent to $99.11 a barrel.On the domestic front, crude oil fu…
Washington, May 4 (IANS) The United States will begin a major military-backed operation to escort commercial vessels through the Strait of Hormuz, as President Donald Trump announced a humanitarian effort to free ships stranded amid escalating tensions in the Middle East.Trump said multiple countries had approached Washington for help, citing vessels “locked up in the Strait of Hormuz” despite having “absolutely nothing to do” with the ongoing conflict.“For the good of Iran, the Middle…
Washington, May 3 (IANS) US Transportation Secretary Sean Duffy on Sunday defended President Donald Trump’s handling of the Iran conflict, even as surging fuel prices strain American households and deepen economic concerns. In an interview to ABC News, Duffy acknowledged rising energy costs but expressed confidence that prices would fall once supply routes stabilise.”Once the Strait opens, you’ll see prices come down, come down immediately,” Duffy said, referring to the Strait of Hormuz, a criti…
Tehran, May 3 (IANS) Iran wants guarantees of non-aggression and the withdrawal of US military forces from the areas surrounding it in its response to the United States’ nine-point proposal, local media reported on Sunday.Iran has delivered a response to the United States’ nine-point proposal, focusing on the issue of an “end to the war”, reported the semi-official news agency, Tasnim.In its nine-point proposal, the US had sought a two-month ceasefire, but Iran wanted the issues to be resolv…
New Delhi, May 3 (IANS) The ongoing crisis in West Asia has triggered a wider geopolitical debate over Pakistan’s role in the region. according to a report analysts and observers increasingly questioned what they describe as a “dual” or “double policy” approach in Islamabad’s foreign engagements.The debate gained traction after remarks by the External Affairs Minister S. Jaishankar, who reportedly referred to Pakistan as a “broker” in the crisis, drawing sharp reactions and renewed scrutiny of I…
New Delhi, May 3 (IANS) An India-linked liquefied petroleum gas (LPG) tanker has successfully crossed the strategically vital Strait of Hormuz, marking a rare transit amid heightened tensions and severe disruptions to global energy flows.The Marshall Islands-flagged vessel, Sarv Shakti, carrying around 45,000 tonnes of LPG commonly used as cooking fuel, was tracked moving into the Gulf of Oman after passing near Iran’s Larak and Qeshm islands on Saturday, according to ship-tracking data.The ve…
New Delhi, May 3 (IANS) Amid the ongoing West Asia conflict, OPEC+ countries have agreed in principle to raise oil output targets in June.Multiple reports say that seven OPEC+ countries have agreed to raise oil output targets by about 188,000 barrels per day next month. The output hike would rather be largely symbolic until Strait of Hormuz reopens.This will be the third consecutive monthly increase amid the geopolitical crisis and the departure of the UAE from the group.With the UAE leaving, OP…
Tehran, May 3 (IANS) Iran’s army spokesman Mohammad Akraminia said that the country’s armed forces are controlling the Strait of Hormuz, and no friendly or hostile vessel can transit the waterway without their permission.Controlling the Strait of Hormuz is “an inherent right” of Iran, of which the country had not made use for years, Akraminia said, according to footage of his remarks carried by Iranian media.”At present, Iran’s Islamic Revolution Guard Corps in the west and the country’s army in…
Washington, May 3 (IANS) US President Donald Trump said that he has been briefed on the concept of a potential agreement with Iran, but is awaiting the final wording before making any decision — while cautioning that military action remains on the table if Tehran misbehaves.Speaking to reporters before boarding a flight to Miami from West Palm Beach, Florida, Trump said: “They told me about the concept of the deal. They’re going to give me the exact wording now.”His remarks come amid …