- Donald Trump has suspended planned attacks on Iran for five days after “productive” talks.
- Iran claims Trump is “conceding” while Brent crude plunges below $100.
- Prime Minister Modi said that the war in the Middle East has brought unprecedented challenges to India.
- According to reports, a second suspected “zombie ship” passed through the Strait of Hormuz.
- As oil prices soared and war fears deepened, Indian markets collapsed, losing 1,400 billion rupees.
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Here are the day’s top stories:
trump said US-Iran talks ‘Productive’, strike suspended for five days
U.S. President Donald Trump said Washington and Tehran had held “very good and productive” talks over the past two days and announced a five-day pause in planned attacks on Iran’s power plants and energy infrastructure, a sign that the situation may be de-escalating. The move came after he issued a 48-hour ultimatum on the Strait of Hormuz. Read more
Iran says Trump ‘conceded’, Brent slips as strike suspended
Iran has reacted strongly five days after US President Donald Trump suspended planned attacks on Iran’s energy infrastructure, with Tehran’s mission in Kabul claiming it had “backed down” after Iran issued a firm warning. Signs of an easing of the situation hit the oil market hard, with Brent crude falling below $100 and briefly touching around $96 a barrel. Follow real-time updates
PM Modi says Middle East war poses ‘unprecedented challenges’ to India
Prime Minister Modi said that the ongoing war in the Middle East has brought “unprecedented challenges” to India, affecting the global economy, energy supplies and the security of Indian nationals in the Gulf region. Speaking in Parliament, Prime Minister Modi said that nearly 10,000 Indians live in the region and more than 375,000 people have returned home safely since the conflict began, including about 1,000 people from Iran. Read more
‘Zombie tanker’ mystery deepens as second suspected ghost ship crosses Strait of Hormuz
A second suspected “zombie ship” has been reported crossing the Strait of Hormuz, and although records show the real tanker was scrapped in Bangladesh five years ago, a vessel using the identity of Nabiin appears to be passing through the choke point. The case follows a similar incident with Jamal just days earlier, which showed unusual tactics adopted by operators trying to transport cargo through the war-affected strait. Read more
Oil crisis triggers Rs 1,400-crore market loss, Sensex plunges 1,800 points
Indian stocks tumbled, with the Sensex plunging 1,837 points and the Nifty closing 602 points lower as an escalation in the US-Iran war and soaring crude oil prices triggered a broad sell-off. Brent crude oil prices rising above $110, rupee hitting record lows, continued FII outflows and global risk aversion dampened investor sentiment. Read more