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UAE leaves OPEC, threatening cartel’s grip on oil markets

Fri, 01 May 2026 04:25:48 GMT

FRANKFURT, Germany: The United Arab Emirates' decision to leave OPEC marks one of the most significant shifts in the global oil market in decades, potentially weakening the cartel's ability to control supply and influence prices over the long term.

The UAE said it will formally exit the Organization of the Petroleum Exporting Countries on Friday, ending its membership in a group that has for decades coordinated

Jet fuel flows to Europe dry up, raising summer crunch fears

Thu, 30 Apr 2026 10:34:48 GMT

LONDON, U.K.: Europe is facing growing concerns over jet fuel supply as shipments from the Middle East, its largest external source, effectively stopped in April, threatening a potential crunch ahead of the peak summer travel season.

The disruption comes as the war in Iran affects production and key shipping routes, cutting off a region that typically accounts for nearly 60 percent of Europe's jet fuel imports f

Fed likely to pause as inflation risks cloud outlook

Wed, 29 Apr 2026 11:12:40 GMT

WASHINGTON, D.C.: The U.S. Federal Reserve is expected to leave interest rates unchanged this week, as policymakers weigh rising inflation risks tied to energy prices and growing uncertainty over the central bank's leadership.

The Federal Open Market Committee is widely expected to keep its benchmark rate in the 3.50 percent to 3.75 percent range when it concludes its meeting on April 29. The decision would exte

US sentiment drops to record low despite Iran ceasefire

Mon, 27 Apr 2026 19:41:12 GMT

WASHINGTON, D.C.: U.S. consumer confidence fell to its lowest level on record in April, as rising energy costs linked to the Iran war continued to weigh on household sentiment despite a ceasefire.

The University of Michigan's Surveys of Consumers said its Consumer Sentiment Index dropped to a final reading of 49.8, down from 53.3 in March. Although slightly higher than the preliminary reading of 47.6 earlier in

"Rats in sewer pipe": US Treasury chief Bessent slams Iranian leadership

Sat, 02 May 2026 00:15:10 GMT

Washington [US], May 2 (ANI): Calling Iranian leadership 'rats in a sewer pipe', US Treasury Secretary Scott Bessent on Friday (local time) said those governing in Tehran are unaware about the ground realities adding that international community has turned up against them.

Asserting that US has complete control over Strait of Hormuz, the world's most crucial oil chokepoint, he said that a blockade will continue

"Rats in sewer pipe": US Treasury chief Bessent slams Iranian leadership, says 'World has turned against Tehran'

Fri, 01 May 2026 23:50:42 GMT

Asserting that US has complete control over Strait of Hormuz, the world's most crucial oil chokepoint, he said that a blockade will continue

US sanctions Chinese oil terminal over Iran trade under 'Economic Fury'

Fri, 01 May 2026 23:18:39 GMT

Washington DC [US], May 2 (ANI): The United States has announced a new wave of sanctions targeting Iran's financial and energy networks, escalating pressure on Tehran's oil revenues and its commercial links with China.

In a post on X, US Treasury Secretary Scott Bessent described Iran as 'the head of the snake for global terrorism,' adding that under the leadership of US President Donald Trump, the Treasury was

US sanctions Chinese oil terminal over Iran trade under 'Econimic Fury'

Fri, 01 May 2026 23:14:33 GMT

In a post on X, US Treasury Secretary Scott Bessent described Iran as 'the head of the snake for global terrorism,' adding that under the leadership of US President Donald Trump, the Treasury was

Gujarat CM Bhupendra Patel allocates Rs 7.50 crore for development works of Surat city and district

Fri, 01 May 2026 23:10:26 GMT

Surat (Gujarat) [India], May 2 (ANI): Gujarat Chief Minister Bhupendra Patel allocated Rs 7.50 crore for development works in Surat city and district during the state-level celebration of Gujarat Gaurav Diwas-2026 held at Dumas Sea Face on Friday, according to a press release.

The grand cultural programme titled 'Gauravvanti Gujarat, Virasat thi Vikas' was organised under the chairmanship of Governor Acharya Devv

India expanded crude sourcing to 41 countries, shielded consumers during energy crisis: Hardeep Singh Puri

Fri, 01 May 2026 23:09:24 GMT

Surat (Gujarat) [India], May 2 (ANI): Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday said India expanded its crude oil sourcing base to 41 countries from 27 earlier, as part of efforts to strengthen energy security during the global energy crisis.

'What has happened during this energy crisis in India, it happened because the Govt absorbed the shock at the fiscal system level rather than

HSAMB official dismissed in Rs 10 crore fraud case; CBI probe ordered

Fri, 01 May 2026 22:57:02 GMT

Panchkula (Haryana) [India], May 2 (ANI): The Haryana State Agricultural Marketing Board (HSAMB) has dismissed its suspended Controller of Finance and Accounts, Rajesh Sangwan, from service following his alleged involvement in a multi-crore financial fraud case currently under investigation by the State Vigilance and Anti-Corruption Bureau.

According to an official order issued by the Board, Sangwan was arrested

"Massive defeat awaits TMC," says Anurag Thakur; defends Election Commission

Fri, 01 May 2026 22:40:38 GMT

Dharamshala (Himachal Pradesh) [India], May 1 (ANI): BJP MP Anurag Thakur on Friday defended the Election Commission and said a 'massive defeat' awaits the TMC in Bengal, accusing it of electoral malpractices and blaming the EC and EVMs when it loses.

While speaking to the reporters, he alleged that the TMC had affixed tape on the BJP's symbol on EVMs on polling day, intimidated voters and misled people.

'Vampire Diaries' actor Ian Somerhalder reveals "financial upheaval" led to his television career exit

Fri, 01 May 2026 22:36:32 GMT

Los Angeles [US], May 1 (ANI): Actor Ian Somerhalder, best known for his portrayal of Damon Salvatore in 'The Vampire Diaries', confessed to being in an eight-figure debt after taking retirement from acting.

Speaking to E! News, Somerhalder shared that 'financial upheaval' was a part of the reason that made him leave a lucrative television career.

'I retired from acting seven years ago. I left an insanely

'Just a courtesy call, no curiosity': MLA Hariprasad meets CM Siddaramaiah, urges Cong workers to avoid leadership talk

Fri, 01 May 2026 22:12:44 GMT

Bengaluru (Karnataka) [India], May 1 (ANI): Congress MLA BK Hariprasad on Friday dismissed speculation over his meeting with Chief Minister Siddaramaiah, calling it a 'courtesy call' and saying there was 'no curiosity' attached to it, after the Congress MLA held a meeting with Karnataka Chief Minister Siddaramaiah at his official residence.

Speaking to ANI, Hariprasad said he had not met Siddaramaiah for three m

West Asia tensions: Govt keeps petrol, diesel, LPG prices unchanged amid supply concerns

Fri, 01 May 2026 22:02:31 GMT

New Delhi [India], May 1 (ANI): The government on Friday said retail fuel prices will remain unchanged and supply of petrol, diesel and domestic LPG continues to be stable, even as it takes multiple steps to manage disruptions arising from the evolving situation in West Asia.

'Retail pump prices of Petrol, Diesel and domestic LPG (14.2 kg cylinders meant for regular household use) have been kept unchanged,' the M

"Unacceptable" says Tamil Nadu CM Stalin on LPG price hike

Fri, 01 May 2026 15:11:38 GMT

Tamil Nadu [India], May 1 (ANI): Tamil Nadu Chief Minister MK Stalin on Friday criticised the recent increase in LPG prices as 'unacceptable', alleging that the Union Government led by the Bharatiya Janata Party (BJP) has failed to pass on the benefits of falling global crude oil prices to consumers and is instead burdening the public after elections.

He said the price revision of LPG cylinders immediately after

"Geopolitical Earthquake": UAE quits OPEC to defy Saudi energy dominance, says analysis

Fri, 01 May 2026 15:08:34 GMT

UAE quits OPEC: 'Geopolitical earthquake' as Abu Dhabi breaks with Saudi leadership

Abu Dhabi [UAE], May 1 (ANI): In a move that has been described by analysts as a 'watershed moment' for West Asia, the United Arab Emirates on Tuesday announced its withdrawal from the OPEC and OPEC+ groupings, marking a definitive end to decades of economic deference to Saudi Arabia.

A new strategic analysis by PSIFOS Consu

Trumps sons claim share in mining group supported by US govt FT

Fri, 01 May 2026 14:58:09 GMT

The company secured up to $1.6 billion from Washington last year to extract tungsten in Kazakhstan, the news outlet has said

A shell company backed by Donald Trump Jr. and Eric Trump has agreed to a merger with a mining group that secured up to $1.6 billion from the US government in 2025 to facilitate the extraction of tungsten in Kazakhstan, the Financial Times has reported.

The agreement

'Cruel irony on Labour Day': CM Siddaramaiah calls LPG hike "Modi's 'gift' to working class"

Fri, 01 May 2026 14:52:18 GMT

Bengaluru (Karnataka) [India], May 1 (ANI): Karnataka Chief Minister Siddaramaiah on Friday accused the Centre of hiking commercial LPG cylinder prices immediately after Assembly elections, calling it 'organised looting'.

In a post on X, Siddaramaiah said the price of a 19-kg commercial LPG cylinder was increased by Rs 993 on May 1, taking the cost to Rs 3,071.50 per cylinder. He alleged the Centre had 'deliberat

'I had said it,' says Rahul Gandhi; flags 993 LPG price jump in a day, alleges 81% rise in 3 months

Fri, 01 May 2026 12:13:31 GMT

New Delhi [India], May 1 (ANI): Leader of Opposition and Congress leader Rahul Gandhi on Friday alleged that domestic inflationary pressures were expected to rise after the elections, pointing to a sharp increase in the price of commercial LPG cylinders.

In a post on the social media platform X, Gandhi said the commercial gas cylinder price has gone up by 993 in a single day, calling it the 'biggest increase in a

"Absolutely NOT self-defence": Iran slams US military campaign as "act of aggression"

Fri, 01 May 2026 12:11:27 GMT

Tehran [Iran], May 1 (ANI): Iran's Foreign Ministry spokesperson Esmaeil Baghaei has hit out at the United States over its military campaign against the Islamic Republic, dismissing Washington's justification for the strikes.

In a post on social media, Baghaei condemned the US for its war of 'aggression' and challenged the narrative that the operations were a matter of 'self-defence'. To support his argument, he

"Centre has cheated voters": Karnataka Deputy CM DK Shivakumar slams commercial LPG cylinder hike

Fri, 01 May 2026 12:04:14 GMT

Bengaluru (Karnataka) [India], May 1 (ANI): Karnataka Deputy Chief Minister DK Shivakumar on Friday launched a sharp attack on the Centre over the recent hike in commercial LPG cylinder prices, accusing the government of 'cheating' voters and burdening the common man.

Speaking to reporters, Shivakumar said the move was anticipated after the elections and termed it a 'backstabbing' of the people.

'It will a

Pakistan concedes vulnerability to global shocks, lacks "strategic oil reserves like India" to buffer soaring fuel prices

Fri, 01 May 2026 11:38:22 GMT

Islamabad [Pakistan], May 1 (ANI): Pakistan has conceded its severe vulnerability to the current global oil shock, admitting that the nation lacks 'strategic oil reserves like India', which have enabled New Delhi to mitigate the impact of escalating crude prices caused by Middle East hostilities.

The admission follows a surge in oil prices to USD 126 per barrel, the highest since 2022, as shipping remains obstruc

Greater production flexibility benefits ADNOC's listed companies

Fri, 01 May 2026 11:15:49 GMT

ABU DHABI, 1st May, 2026 (WAM) -- The UAE's decision to conclude its membership of OPEC and OPEC+ reflects a shift towards aligning production more closely with capacity and market demand. For ADNOC's portfolio of listed companies, the change removes a constraint that has historically limited how investment in capacity translates into activity and earnings.

OPEC's quota system has long been used to manage global

Column: Japan lifting ban on lethal weapons exports -- a dangerous step toward remilitarization

Fri, 01 May 2026 11:15:17 GMT

History tells us time and again that those who play with fire will perish by it. Should Japan's right-wing forces insist on going down the beaten path of militarism and reckless expansion, they would inevitably repeat the mistakes of the past and face complete isolation and boycott from the wider world.

by Tang Zhiyuan

Recently, the Japanese government officially revised "the Three Principl

Atishi slams BJP over commercial LPG price hike, calls it "return gift" after polls

Fri, 01 May 2026 09:51:05 GMT

New Delhi [India], May 1 (ANI): Leader of Opposition (LoP) in the Delhi Assembly, Atishi, on Friday criticised the Bharatiya Janata Party (BJP) over the sharp increase in commercial LPG cylinder prices, calling it a 'return gift' to the public following the election cycle.

In a post on X, Atishi wrote, 'BJP's 'Return Gift' to the People! A massive 993 hike in commercial LPG cylinder prices. In Delhi, a cylinder w

Court imposes Rs 28 lakh fine in LPG cylinders black marketing case, partners get sentence till rise of court

Fri, 01 May 2026 09:47:58 GMT

New Delhi [India], May 1 (ANI): While taking a serious view of a case connected with black marketing of LPG Cylinders at exorbitant prices, a CBI court has recently imposed a fine of Rs. 28 lakh on the convicted and sentenced the partners till the rise of the court. The CBI had registered a case under the Essential Commodities Act 1955 in 2010.

Additional Chief Judicial Magistrate (ACJM) Neetu Nagar sentenced Van

Trump administration says US "not at war" with Iran as War Powers deadline expires

Fri, 01 May 2026 09:33:37 GMT

Washington, DC [US], May 1 (ANI): The administration of President Donald Trump has maintained that the United States is 'not at war' with Iran, even as the military engagement reaches a pivotal legal threshold under the War Powers Resolution, establishing a potential confrontation between the White House and Congress.

House Speaker Mike Johnson stated on Thursday that authorisation from Congress is not required a

"Cylinders don't get expensive; roti-thali gets costlier": Akhilesh Yadav slams BJP over LPG price reduction

Fri, 01 May 2026 07:51:23 GMT

Lucknow (Uttar Pradesh) [India], May 1 (ANI): Samajwadi Party Chief Akhilesh Yadav on Friday criticised the BJP government for a mere Rs 7 reduction in commercial LPG cylinder prices, terming it insignificant in the face of rising inflation that is making the 'roti-thali' costlier for ordinary citizens.

In a post on X, Yadav wrote,'Cylinders don't get expensive; the roti-thali does. This is known only by the one

Iran reportedly recovers buried munitions to rebuild strike capacity: US MEDIA

Fri, 01 May 2026 07:47:16 GMT

Tehran [Iran], May 1 (ANI): The Iranian government has stepped up operations to recover missiles and various munitions that were 'hidden underground or buried in rubble' following aerial bombardments by the United States and Israel, according to a report by NBC News.

Citing a US official and two additional sources acquainted with the situation, the report indicates that Tehran is leveraging the current cessation

PM Modi will be remembered as 'price hike man': Congress MP Pramod Tiwari

Fri, 01 May 2026 07:42:15 GMT

New Delhi [India], May 1 (ANI): Congress Rajya Sabha MP Pramod Tiwari on Friday sharply criticised the recent increase in LPG cylinder prices, alleging that the Centre has burdened citizens with rising inflation and timed the hike after elections.

Targeting Prime Minister Narendra Modi, Tiwari said the country would remember him as the 'Price Hike Man,' alleging that inflation under the current government has ris

UAE exits OPEC: short-term pain, long-term gain as global oil shift to benefit India: Report

Fri, 01 May 2026 07:41:13 GMT

New Delhi [India], May 1 (ANI): The United Arab Emirates' (UAE) decision to exit the Organization of the Petroleum Exporting Countries (OPEC) may have far-reaching implications for global energy markets, potentially reshaping supply strategies and price dynamics, according to a sector update report by ICICI Securities.

The report described the move as a major shift in the global oil landscape, ending a decades-ol

West Asia conflict may trigger USD 800 bn capex boost for India, but oil and fertiliser risks remain: Morgan Stanley

Fri, 01 May 2026 07:36:04 GMT

New Delhi [India], May 1 (ANI): The ongoing conflict in West Asia could emerge as both a challenge and an opportunity for India, with global brokerage Morgan Stanley projecting a sharp rise in domestic investments across energy, defence, fertilisers and data infrastructure, even as the country grapples with elevated risks from oil and fertiliser imports.

In its latest report Morgan Stanley said the geopolitical t

Market to track Middle East conflict, earnings and auto sales after flat week; Indian equities closed today for Maharashtra Day

Fri, 01 May 2026 07:28:52 GMT

New Delhi [India], May 1 (ANI): The Indian stock market will closely monitor developments in the Middle East, the earnings season, and April auto sales data in the coming week, as investors navigate persistent global and domestic headwinds, SBI Securities said in its weekly outlook.

'Any positive breakthrough in the Middle East could improve risk appetite and support equity markets,' the brokerage noted, adding t

IC LLC Badra Petroleum: Full Company Profile

Fri, 01 May 2026 06:39:52 GMT

International Limited Liability Company Badra Petroleum (abbreviated IC LLC Badra Petroleum) operates the Badra oil field in Iraq's Wasit Governorate. The enterprise is controlled by PJSC Gazprom through West Asia LLC, following a 2025 corporate restructuring that ended its affiliation with PJSC Gazprom Neft. The field is operated under a service?contract arrangement with the Iraqi government.

Formation Path and

Wast Asia conflict may trigger USD 800 bn capex boost for India, but oil and fertiliser risks remain: Morgan Stanley

Fri, 01 May 2026 06:25:54 GMT

In its latest report Morgan Stanley said the geopolitical t

"Inflation Man Modi has cracked the whip again": Congress slams commercial LPG price hike

Fri, 01 May 2026 06:23:50 GMT

New Delhi [India], May 1 (ANI): The Indian National Congress on Friday launched a sharp attack on the Centre, calling Prime Minister Narendra Modi 'Inflation Man Modi' and accusing the government of repeatedly hiking commercial LPG cylinder prices, burdening businesses.

The party said the recent Rs 993 hike has added to a series of price increases, alleging that it is putting pressure on businesses and contribut

Trump's upcoming China visit influences strategic options on Iran: Reports

Fri, 01 May 2026 06:22:48 GMT

Washington, DC [US], May 1 (ANI): Reports from American media suggest that President Donald Trump's forthcoming diplomatic mission to China is significantly influencing his strategic deliberations concerning the conflict in Iran.

According to NBC, an anonymous White House official indicated that the scheduled trip is among the various factors currently being considered by the President as he evaluates his militar

"Voted on April 29, price hike on May 1": Congress' Manickam Tagore slams Centre over commercial LPG price hike

Fri, 01 May 2026 06:07:28 GMT

Chennai (Tamil Nadu) [India], May 1 (ANI): Congress MP Manickam Tagore on Friday said the Centre raised commercial Liquefied petroleum gas (LPG) cylinder prices immediately after polling ended on April 29, calling it a deliberate move and 'not a coincidence but a pattern'.

He said the price rise would impact small businesses like restaurants and tea shops.

In a post on X, Tagore wrote, 'Voted on April 29. P

Arab nations complicit in "aggression" by hosting US-Israeli bases: Iran envoy to UN

Fri, 01 May 2026 05:00:05 GMT

New York [US], May 1 (ANI): Iran's Permanent Representative to the United Nations, Amir Saeid Iravani, has formally responded to a joint letter sent by six Arab states to the UN and the UN Security Council regarding the ongoing regional tensions.

The Iranian envoy hit back at the signatory states, alleging their complicity in military actions against Tehran. Iravani stated that those countries have participated i

Iran Delivers New Negotiation Plan To Pakistan

Fri, 01 May 2026 05:00:00 GMT

New posts

16:24

Iran Delivers New Negotiation Plan To Pakistan

Iran has delivered a new negotiation proposal to Pakistan, which is acting as mediator in talks with the United States.

Irans state news agency IRNA reported that the Islamic republic handed over the text of its latest plan on the evening of April 30, as part of efforts to end the ongoing conflict and advance diplomatic talks with

Trump 'Not Satisfied' With New Iranian Peace Proposal

Fri, 01 May 2026 05:00:00 GMT

Newest first

Newest first
Oldest first

19:06

Trump 'Not Satisfied' With Iranian Proposal

US President Donald Trump speaks with the media prior to departing from the the White House on May 1.

US President Donald Trump said he is "not satisfied" with a new Iranian proposal delivered by Tehran to Pakistan, which is acting as a mediator in talks with the U

Commercial LPG cylinder price hiked by Rs 993 to Rs 3,071.50 in Delhi, 5 KG FTL up by Rs 261, Domestic rates unchanged: Sources

Fri, 01 May 2026 04:13:19 GMT

New Delhi [India], May 1 (ANI): Commercial LPG cylinder prices have been revised upwards steeply, effective Friday, adding to costs for businesses in the food and hospitality sectors, while domestic LPG prices remain unchanged for households.

According to sources, the price of a 19 kg commercial LPG cylinder has been increased by Rs 993, taking the cost in Delhi to Rs 3,071.50 from today. The 5 kg FTL (Free Trade

UN chief Guterres warns Hormuz Strait disruption could lead to "global recession"

Fri, 01 May 2026 04:03:18 GMT

New York [US], May 1 (ANI): United Nations Secretary General Antonio Guterres has urged the reopening of the Strait of Hormuz, saying that the longer it is choked, 'the higher the cost to humanity.'

'My message is clear: Open the Strait. Let all ships pass. Let the global economy breathe again,' he said on Thursday.

The world may face the 'spectre of a global recession' if the freedom of navigation through

Fuel prices to remain steady for consumers despite excise duty revisions by Government, says IOC

Fri, 01 May 2026 03:28:36 GMT

New Delhi [India], May 1 (ANI): The Indian government revised central excise duties on petrol and diesel, but retail prices for consumers will remain unchanged, Indian Oil Corporation (IOC) said on Friday in a press release.

In three notifications issued on Thursday, the Ministry of Finance set the central excise duty on petrol at Rs 23 per litre and on diesel at Rs 33 per litre, effective from May 1, 2026. The g

Govt lowers export duties on diesel, ATF; keeps excise duty on petrol unchanged

Thu, 30 Apr 2026 23:43:48 GMT

New Delhi [India], May 1 (ANI): The Centre has revised export duties on diesel and aviation turbine fuel (ATF) for the next fortnight beginning May 1, while petrol export duty continues to remain nil, the Finance Ministry said on Thursday.

The rate of duty on exports of diesel will be Rs 23 per litre (SAED - Rs. 23; RIC - Nil). Further, the rate of duty on exports of ATF will be Rs 33 per litre (SAED only). The

France targets fossil fuel phaseout by 2050, unveils roadmap

Thu, 30 Apr 2026 23:31:30 GMT

Paris [France], May 1 (ANI): France has released a detailed national strategy titled 'France's Roadmap for Transitioning away from Fossil Fuels,' outlining how the country plans to eliminate dependence on coal, oil and fossil gas by 2050 as part of its carbon neutrality goals.

According to the April 2026 report, fossil fuels accounted for less than 60 per cent of France's final energy consumption in 2023, down fr

U.S. key inflation gauge in March hits highest level in almost 3 years

Thu, 30 Apr 2026 23:15:15 GMT

NEW YORK, April 30 (Xinhua) -- Fast-rising gasoline prices pushed the U.S. Federal Reserve's preferred inflation gauge to 3.5 percent in March, marking its highest rate in almost three years, according to new economic data released on Thursday.

The U.S. personal consumption expenditures (PCE) price index for March rose 0.7 percent from February, a faster-than-expected acceleration from the previous monthly pace o

A deal without Ukraine: Inside the Putin-Trump talks

Thu, 30 Apr 2026 22:40:52 GMT

From the "Spirit of Anchorage" to sanctions shifts, Moscow and Washington are exploring a cautious thaw

Russian President Vladimir Putin and US President Donald Trump have held another phone call. It was their 11th telephone conversation since February 2025.

Below, we explore what lies behind the official state

Argentina, India deepen strategic partnership on edible oil security, agricultural cooperation

Thu, 30 Apr 2026 22:16:20 GMT

New Delhi [India], April 30 (ANI): Argentina and India are strengthening their strategic partnership with a focus on global edible oil security, agricultural innovation, and long-term resilience, according to a press release issued by the Embassy of Argentina in India.

Argentine Ambassador to India, Mariano Caucino, said the two countries have built a dynamic relationship that extends beyond trade, rooted in mutu

"There will be more supply, bargaining power": Economist Sfakianakis on impact of UAE's OPEC exit on Asian countries

Thu, 30 Apr 2026 21:40:25 GMT

Riyadh [Saudi Arabia], April 30 (ANI): Chief Economist and Head of Economic Research at the Gulf Research Centre, John Sfakianakis, on Thursday said that the United Arab Emirates' recent exit from the Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+ could give Asian buyers some bargaining leverage, though he cautioned that rising demand may limit the extent of such gains.

Speaking to ANI on the

UAE's OPEC exit "fully aligned" with US, on course to peaceful agreement with Israel: Economist John Sfakianakis

Thu, 30 Apr 2026 21:19:51 GMT

Riyadh [Saudi Arabia], April 30 (ANI): Chief Economist and Head of Economic Research at the Gulf Research Centre, John Sfakianakis, on Thursday said that the United Arab Emirates' recent exit from the Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+ is 'fully aligned' with the United States' energy and geopolitical strategy and signals a broader realignment in Gulf politics.

Speaking to ANI, on

Piyush Goyal holds Jan Samwad in Mumbai, hears over 100 citizen grievances

Thu, 30 Apr 2026 17:26:35 GMT

Mumbai (Maharashtra) [India], April 30 (ANI): Uttar Mumbai MP and Union Commerce Minister Piyush Goyal held a Jan Samwad on Wednesday evening at Sanjivani High School, Dahisar East, where he listened to various grievances raised by citizens. Immediate action was taken on 60+ complaints.

During the Jan Samwad, some complaints were resolved on the spot, while for others, clear instructions were issued to officials

Closer cooperation with China set to fuel growth in neighboring countries

Thu, 30 Apr 2026 17:15:26 GMT

BEIJING, May 1 (Xinhua) -- As global geopolitical uncertainties rise and the world accelerates toward multipolarity, neighboring countries increasingly view closer cooperation with China not merely as a strategic choice, but as a vital pathway to shared prosperity, high-level officials and scholars from across Asia said at a forum in Beijing.

Against a backdrop of global turbulence, China has rolled out its 15th

U.S.-NEW YORK-U.S. Q1 GDP

Thu, 30 Apr 2026 15:46:27 GMT

(260430) -- NEW YORK, April 30, 2026 (Xinhua) -- This photo taken on April 29, 2026 shows a container terminal at the Port of New York and New Jersey, the United States. The U.S. Commerce Department reported Thursday that the U.S. economy grew at an annualized rate of 2 percent in the first quarter, falling short of Wall Street expectations. (Xinhua/Zhang Fengguo)

The UAEs OPEC gambit: Clever power play or road to chaos

Thu, 30 Apr 2026 14:46:18 GMT

Abu Dhabis break with the oil cartel is less about barrels than power testing Riyadh, helping Trump, and redrawing Gulf alliances

Although the United Arab Emirates has tried to present its upcoming exit from OPEC and the wider OPEC+ framework as part of its sovereign energy strategy and long-term economic planning, its timing and regional context suggest that this is a political act.

With i

The UAE's OPEC gambit: Clever power play or road to chaos?

Thu, 30 Apr 2026 14:46:18 GMT

Abu Dhabi's break with the oil cartel is less about barrels than power - testing Riyadh, helping Trump, and redrawing Gulf alliances

Although the United Arab Emirates has tried to present its upcoming exit from OPEC and the wider OPEC+ framework as part of its sovereign energy strategy and long-term economic planning,

Demand destruction to rebalance oil markets amid supply shock; outlook positive for OMCs: Report

Thu, 30 Apr 2026 14:42:01 GMT

New Delhi [India], April 30 (ANI): Global oil markets are likely to rebalance through demand destruction triggered by high crude prices amid ongoing supply disruptions, a trend that could improve margins for oil marketing companies (OMCs), according to a report by PL Capital.

The report, titled 'Oil & Gas Sector Update,' highlighted that the ongoing West Asia conflict has disrupted global oil supplies, partic

Britain to create anti-Russian naval force

Thu, 30 Apr 2026 13:40:54 GMT

The UK-led grouping will include the Netherlands, Nordic nations, and the Baltic states, according to the country's first sea lord

Britain and other north European states will create naval force outside of NATO to counter Russia, first sea lord and chief of naval staff in the UK, General Gwyn Jenkins, has said.

African energy giant reaffirms commitment to OPEC

Thu, 30 Apr 2026 13:39:24 GMT

Algeria says the group remains central to efforts to stabilize global oil markets

Algeria remains committed to the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ and considers the producer alliances a foundation of stability in the global oil market, the country's Ministry of Hydrocarbons and Mines

Indian equities close deep in red as Sensex falls 582 points, Nifty closes below 24,000 mark

Thu, 30 Apr 2026 12:38:53 GMT

New Delhi [India], April 30 (ANI): The Indian benchmark indices concluded Thursday's session with significant losses following a volatile day of trading dominated by global pressures. The BSE Sensex shed 582.86 points, or 0.75 per cent, to settle at 76,913.50. Simultaneously, the NSE Nifty 50 slipped 180.10 points, or 0.74 per cent, to end the day at 23,997.55.

At the time of filing this report, Brent Crude Oil f

US cable outlines new construct to control Strait of Hormuz media

Thu, 30 Apr 2026 11:26:31 GMT

The loosely defined initiative will reportedly be pitched to foreign governments by the State Department

The US is set to pitch foreign governments on a new initiative for controlling the Strait of Hormuz, with participation explicitly excluding "adversaries" Russia and China, according to media reports.

The proposal was outlined in a cable sent on Tuesday by Secretary of State Marco Rubio

Government caps domestic ATF price hike at 25% amid global surge; Airlines await tomorrow's fresh announcement

Thu, 30 Apr 2026 10:38:53 GMT

By Snehal Satghare

New Delhi [India], April 30 (ANI): India's domestic airlines are bracing for tomorrow's (Friday) ATF (Aviation Turbine Fuel) price announcement as they continue to navigate volatility in global energy markets. The government had earlier stepped in to shield the domestic aviation sector from a potential price explosion, but industry players remain anxious about the next revision.

According

Fuel Prices Stall in Bulgaria as Consumption Drops by 20%

Thu, 30 Apr 2026 10:03:00 GMT

Fuel prices in Bulgaria have remained unchanged over the past week, according to gas station operators in Ruse, but the pause has not translated into relief for the sector. Despite the temporary stabilization, consumption has continued to fall sharply, with industry data pointing to a decline of around 20 percent over the past month.

Owners say the current price standstill is unlikely to last. Ventsislav Pengezov

Ukraine Strikes Deep Inside Russia Amid Talks Of Temporary Cease-Fire

Thu, 30 Apr 2026 09:49:09 GMT

Ukraine has hit an oil facility and industrial site in Russia's Perm region, roughly 1,500 kilometers from the Ukrainian border, according to Russian officials, as US President Donald Trump and his Russian counterpart, Vladimir Putin, discussed a potential temporary cease-fire aimed at pausing the four-year war in Ukraine.

An industrial site in Russia's Perm region has been attacked by a Ukrainian drone, the loca

Ukraine Strikes Deep Inside Russia, Tuapse Hit Again

Thu, 30 Apr 2026 09:49:09 GMT

Ukrainian forces again struck an oil refinery in Russia's Black Sea port of Tuapse early on May 1, a day after launching drones at a Russian oil facility some 1,500 kilometers from the Ukrainian border, the latest in a series of long-range strikes by Kyiv targeting Russian energy facilities.

"In Tuapse, as a result of a drone attack by the Kyiv regime, a fire broke out on the territory of the seaport terminal," a

India's sugar output rises 7%; ISMA flags financial stress to the Industry

Thu, 30 Apr 2026 08:58:10 GMT

New Delhi [India], April 30 (ANI): Sugar production in India reached 275.28 lakh tonnes as of April 30 in the 2025-26 season, registering a nearly 7 per cent increase from 256.49 lakh tonnes recorded during the same period last year, according to data released by the Indian Sugar and Bio-Energy Manufacturers Association (ISMA).As the crushing season draws to a close, only five sugar mills remain operational across the

US aircraft carrier likely to exit Middle East as Iran talks stagnate: Report

Thu, 30 Apr 2026 08:37:39 GMT

Washington DC [US], April 30 (ANI): A US aircraft carrier, alongwith its strike group is likely to vacate the West Asia region in a few days, CBS reported, citing confirmation by a top US official on Wednesday (local time).

The USS Gerald R Ford, which will be leaving the Middle East, is one of the three US carriers in the region, as per CBS News. This development comes even as US President Donald Trump has refus

Oil spikes to highest price since 2022

Thu, 30 Apr 2026 07:37:26 GMT

The jump follows reports of Donald Trump being ready to continue the blockade of Iranian ports for months

The price of Brent crude oil rose to $126 on Thursday as US-Iran talks stalled and reports that US President Donald Trump may extend the blockade of Iranian ports.

It hit $126.3 for the first time since March 2022, when the Ukraine conflict escalated. Prices later eased to $125.30. The

OPEC grip on oil market weakening, supply recovery may take 6-9 months: International Oil Analyst

Thu, 30 Apr 2026 07:35:44 GMT

By Nikhil Dedha

Singapore, April 30 (ANI): The dominance of OPEC in the global oil market is gradually weakening, and the current supply disruption linked to the Strait of Hormuz could take up to six to nine months to normalise, said June Goh, Senior Oil Market Analyst, Sparta Commodities.

In an exclusive conversation with ANI on Thursday, Goh said the reduced influence of OPEC is not a sudden development b

West Asia crisis poses supply shock risk, if recovery delayed inflation may spread across economy: Finance Ministry

Thu, 30 Apr 2026 06:31:40 GMT

New Delhi [India], April 30 (ANI): The Finance Ministry has warned that the ongoing West Asia crisis could lead to a supply shock for the Indian economy, with risks of rising inflation if oil supply disruptions persist, according to its monthly economic review for April.

The ministry noted that repairing damage to oil and gas production and supply infrastructure in the Gulf region may take several months.

US shifted from 'managing world's energy' to 'disruption': IRGC

Thu, 30 Apr 2026 06:27:33 GMT

Tehran [Iran], April 30 (ANI): The Islamic Revolutionary Guard Corps (IRGC) said that the Trump administration shifted from the strategy of 'managing the world's energy' to 'disruption', and Iran has now become the center of the 'coalition against disruption.'

The IRGC said that the disruption project was launched by the US to contain China, Russia and Europe.

In a post on X, the IRGC said, 'The Trump admin

U.S.-NEW YORK-CRUDE OIL PRICES-RISE

Thu, 30 Apr 2026 06:15:54 GMT

(260430) -- NEW YORK, April 30, 2026 (Xinhua) -- A vessel leaves the Port of New York and New Jersey, the United States, on April 29, 2026. Oil prices climbed on Wednesday. West Texas Intermediate crude for June delivery surged 6.95 U.S. dollars, or 6.95 percent, to settle at 106.88 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery jumped 6.77 dollars, or 6.08 percent, to close at 118.

Dalal Street tumbles as crude tops USD 120; Nifty slips 278 pts, Sensex down 914 pts in opening

Thu, 30 Apr 2026 05:33:54 GMT

Mumbai (Maharashtra) [India], April 30 (ANI): The domestic stock markets opened under heavy selling pressure on Thursday as Brent crude oil futures surged above USD 120 per barrel, denting investor sentiment amid continued uncertainty in West Asia.

The Nifty 50 index opened at 23,899.20, falling 278.45 points or 1.15 per cent, while the BSE Sensex opened at 76,582.24, down 914.12 points or 1.18 per cent.

Pezeshkian Says US Naval Blockade Will Ultimately Fail

Thu, 30 Apr 2026 05:00:00 GMT

New posts

11:25

Iranian President Says US Naval Blockade 'Doomed To Failure'

Iranian President Masud Pezeshkian said on April 30 that the US naval blockade of Iranian ports is contrary to the interests of regional countries and will ultimately fail.

In a written message read by government spokeswoman Fatemeh Mohajerani at a meeting marking Persian Gulf National Day, Pezeshkian said the securit

Trump Welcomes UAE Decision To Leave OPEC

Thu, 30 Apr 2026 05:00:00 GMT

New posts

10:09

Trump Welcomes UAE Decision To Leave OPEC

US President Donald Trump welcomed the decision by the United Arab Emirates (UAE) to withdraw from the Organization of the Petroleum Exporting Countries(OPEC).

"I think it's great," Trump said at a news conference, calling UAE President Mohammed bin Zayed Al Nahyan "very smart" and saying "he maybe wants to go his own way."

OPEC i

Air Defenses Activated In Tehran Amid Drone Reports

Thu, 30 Apr 2026 05:00:00 GMT

New posts

09:29

Air Defenses Activated In Tehran Amid Drone Reports

Air defense systems were activated in Irans capital late on April 30, with antiaircraft fire heard in several parts of the city as forces responded to suspected drones, Iranian media reported.

According to the Tasnim and Fars news agencies, both affiliated with Irans Islamic Revolutionary Guards Corps, the sounds were heard fo

Trump Urges Merz To Prioritize Ukraine Over Iran

Thu, 30 Apr 2026 05:00:00 GMT

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17:31

Trump Urges Merz To Prioritize Ukraine Over Iran

US President Donald Trump has said that German Chancellor Friedrich Merz should "spend more time on ending the war with Russia/Ukraine" and "less time on interfering with those that are getting rid of the Iran Nuclear threat."

Trump made the comments on his TruthSocial platform.

Trump has been at loggerheads with Merz in re

UAE Bans Travel Of Its Citizens To Iran, Lebanon, Iraq

Thu, 30 Apr 2026 05:00:00 GMT

New posts

03:52

We are now closing the live blog for the day. We'll be back at 7:30 a.m. Central European time to cover the latest events across the Middle East.

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03:52

UAE Bans Travel Of Its Citizens To Iran, Lebanon, Iraq

Trump threatens to pull troops from Germany amid feud with Merz

Thu, 30 Apr 2026 03:18:42 GMT

The chancellor angered the White House by criticizing the Iran war

US President Donald Trump has said he could withdraw some American troops stationed in Germany amid a public spat with Chancellor Friedrich Merz over the war in Iran.

"The United States is studying and reviewing the possible reduction of tro

Brent crude crosses USD 120 after Trump says Hormuz blockade will continue till Iran agrees to deal

Thu, 30 Apr 2026 02:54:15 GMT

New Delhi [India], April 30 (ANI): Brent crude oil prices surged above USD 120 per barrel on Thursday after US President Donald Trump said the naval blockade of the Strait of Hormuz will continue until Iran agrees to a deal with the United States.
In an exclusive interview with Axios on Wednesday, Trump said the blockade is being used as a key tool to pressure Iran over its nuclear programme.
'The blockade

At Beijing auto show, rising fuel costs boost China's NEV opportunity

Thu, 30 Apr 2026 01:48:18 GMT

BEIJING, April 30 (Xinhua) -- Turmoil in the Middle East and the rising cost of filling a tank are giving drivers yet another reason to switch to Chinese new energy vehicles (NEVs), which are already all the rage with their competitive prices, chic designs and intelligent systems.
This shift is palpable at the world's biggest auto show, which is being held in Beijing. Sprawling across 380,000 square meters and wi

Trump welcomes UAE's OPEC exit, says move could bring down global fuel prices

Thu, 30 Apr 2026 01:32:13 GMT

Washington DC [US], April 30 (ANI): US President Donald Trump on Wednesday welcomed the United Arab Emirates' decision to exit the OPEC and OPEC+ alliance, saying the move could help bring down global oil and gas prices.
'I think it's great. I know him very well, Mohammed. He is very smart. And he probably maybe wants to go his own way. That's a good thing for getting the price of gas down, getting oil down, gett

No deal unless no nukes: Trump calls US naval blockade against Iran 'genius'; CENTCOM says 42 ships turned back

Thu, 30 Apr 2026 01:00:52 GMT

Washington DC [US], April 30 (ANI): US President Donald Trump on Wednesday described the ongoing US naval blockade against Iran as 'genius,' asserting that Tehran would have to concede defeat while ruling out any agreement unless it abandons its nuclear ambitions.
'The blockade is genius. The blockade has been 100% foolproof. It shows how good our Navy is, I can tell you that. Nobody's going to play games. We hav

"Dirty cop": Trump slams ex-FBI chief James Comey following indictment over cryptic "8647" post

Thu, 30 Apr 2026 00:54:42 GMT

Washington DC [US], April 30 (ANI): US President Donald Trump on Wednesday lashed out at former FBI Director James Comey, calling him a 'dirty cop' after he was charged over a social media post featuring the numbers '8647,' which authorities allege amounted to a threat against the President.
Speaking to reporters, Trump said, 'If anybody knows anything about crime, they know 86... It's a mob term for 'Kill Him'..

World economy will suffer terrible crisis amid rising crude prices: Economist Jeffrey Sachs

Thu, 30 Apr 2026 00:10:17 GMT

New Delhi [India], April 30 (ANI): Renowned economist Jeffrey Sachs on Wednesday issued a stark warning that the global economy is teetering on the edge of a 'terrible crisis,' primarily driven by the escalating geopolitical tensions in West Asia and the resulting surge in crude oil prices.
'The world economy will suffer a terrible crisis,' Sachs said while addressing FICCI Legend Series, cautioning that sustaine

Trump rejects Iran's offer, says blockade to remain until US concerns about nuclear program addressed: Axios

Wed, 29 Apr 2026 23:07:56 GMT

Washington DC [US], April 29 (ANI): US President Donald Trump in an exclusive interview to Axios on Wednesday, said that he would continue to keep the naval blockade until Iran agrees to deal with the United States by addressing America's concerns about the nuclear program.
As per Axios, Trump is rejecting the Iranian proposal to first open the Strait of Hormuz and lift the blockade, while postponing the nuclear

"Advancing a roadmap to add 62 vessels in FY 2026-27, backed by Rs 51,383 crore": Sarbananda Sonowal

Wed, 29 Apr 2026 22:57:20 GMT

New Delhi [India], April 29 (ANI): In a decisive push towards self-reliance in the maritime sector, a high-level inter-ministerial review meeting on the Strait of Hormuz situation pivoted to accelerating India's shipping capabilities, with a renewed focus on building a robust, future-ready maritime ecosystem, the Ministry of Ports, Shipping and Waterways said in an official statement released on Wednesday.
Chaire

Chhattisgarh Cabinet approves Urban Gas Distribution Policy 2026 to expand PNG network

Wed, 29 Apr 2026 22:10:16 GMT

New Delhi [India], April 29 (ANI): The Chhattisgarh government has officially approved the Urban Gas Distribution Policy 2026 to broaden access to piped natural gas (PNG) across urban regions, reinforcing the State's commitment to India's clean energy transition. The decision, which aims to strengthen City Gas Distribution (CGD) coverage, was finalized during a State Cabinet meeting chaired by Chief Minister Vishnu Deo

"Game changer" for energy, geopolitics: Former envoy Ashok Sajjanhar on UAE's OPEC exit

Wed, 29 Apr 2026 22:05:07 GMT

New Delhi [India], April 29 (ANI): Former diplomat Ashok Sajjanhar on Wednesday has termed as a 'game changer', the recent announcement by the United Arab Emirates that effective May 1, it will leave Organization of the Petroleum Exporting Countries (OPEC) and PEC+ - an alliance of oil-producing countries - adding that the move will have far-reaching implications for global energy markets as well as geopolitics.

Senate blocks bid to limit Trumps power to attack Cuba

Wed, 29 Apr 2026 20:34:19 GMT

The US president has repeatedly hinted at a possible regime-change operation on the island
A Democratic-led effort to limit US President Donald Trump's authority to use military force against Cuba without congressional authorization has failed in the Senate.
The Republican-majority Senate's vote on the measure on Tuesday narrowly dismissed it as out of order in a 51-47 tally on grounds that

UAE's OPEC exit a natural move - top Russian expert

Wed, 29 Apr 2026 18:43:51 GMT

Russian International Affairs Council head Ivan Timofeev has told RT India that the UAE's decision could reshape the global energy market

The United Arab Emirates' decision to withdraw from the Organization of the Petroleum Exporting Countries is a natural move, a top Russian policy expert has said.

Membership

UAEs OPEC exit a natural move top Russian expert

Wed, 29 Apr 2026 18:43:51 GMT

Russian International Affairs Council head Ivan Timofeev has told RT India that the UAEs decision could reshape the global energy market
The United Arab Emirates' decision to withdraw from the Organization of the Petroleum Exporting Countries is a natural move, a top Russian policy expert has said.
Membership in any organization is relevant when it corresponds to national interests, Russian

Mideast tensions drive up costs for Turkish farmers

Wed, 29 Apr 2026 18:15:17 GMT

by Burak Akinci
ANKARA, April 29 (Xinhua) -- Under the wide skies of the Anatolian plateau, tractors rumble across the vast wheat fields of Haymana, near the capital, Ankara. Here, cereal fields stretch across rolling plains, while livestock farming remains a key source of livelihood for many families.
But farmers say that disruptions in global energy and fertilizer supplies, sparked by the war involving th

No fuel shortage, stocks adequate despite panic buying in Telangana: G Kishan Reddy

Wed, 29 Apr 2026 17:58:32 GMT

New Delhi [India], April 29 (ANI): Union Minister for Coal and Mines G Kishan Reddy on Wednesday said there is no shortage of petrol, diesel, CNG or LPG in Telangana, asserting that adequate stocks are available despite a sharp spike in purchases driven by misinformation.
The Minister reviewed the fuel supply situation in a meeting with Oil Marketing Companies (OMCs) at Dilkusha Guest House in Hyderabad, followin

Mideast tensions push up Germany inflation, threaten fragile recovery

Wed, 29 Apr 2026 17:45:07 GMT

Germany's inflation rate rose to 2.9 percent in April from 2.7 percent in March, as surging energy prices fed into broader consumer costs. The increase marks a clear shift from the roughly 2-percent level seen in recent months.
BERLIN, April 29 (Xinhua) -- Escalating conflict in the Middle East is driving up living costs in Germany, with official data released Wednesday pointing to renewed inflat

Middle East war to drive 24% surge in energy costs World Bank

Wed, 29 Apr 2026 17:40:55 GMT

The world is facing the biggest global energy supply shock on record, which will drive inflation and dampen economic growth globally
The Middle East war has triggered the biggest global energy supply shock on record and will drive a sharp rise in commodity prices, pushing inflation higher and slowing economic growth worldwide, the World Bank has warned.
Attacks on energy infrastructure and

Auto LPG sales increase 100% in April; Domestic supply remains stable despite West Asia crisis: Govt

Wed, 29 Apr 2026 17:28:57 GMT

New Delhi [India], April 29 (ANI): Auto LPG sales in the country recorded a surge of nearly 100 per cent in April compared to the start of the year, even as the government maintained steady domestic supplies despite the ongoing geopolitical crisis in West Asia.
Sujata Sharma, Joint Secretary (Marketing & Oil Refinery) in the Ministry of Petroleum & Natural Gas, while addressing an inter-ministerial brief

Indian markets end higher despite brent crude topping $115, Nifty gains 0.8% led by ITC and Reliance

Wed, 29 Apr 2026 17:10:32 GMT

New Delhi [India], April 29 (ANI): The Indian stock markets displayed resilience on Wednesday, closing in the green despite Brent crude prices surging to $115 per barrel -- their highest level since 2022 -- amid heightened uncertainty over the Iran war and the UAE's decision to exit OPEC.
The Nifty 50 settled at 24,177.65 points, up 0.8 per cent, while the BSE Sensex closed 609.45 points higher at 77,496.36 point

Shock and opportunity: The consequences of the UAE's OPEC exit

Wed, 29 Apr 2026 16:36:31 GMT

Abu Dhabi's break with the cartel could flood markets, rattle prices, and redraw power lines from Riyadh to Moscow

The United Arab Emirates has announced its withdrawal from OPEC and the OPEC+ format effective May 1, 2026, ending nearly six decades of membership. This marks the largest institutional disruption to the