Continued Iranian attacks on oil infrastructure sent oil prices briefly surging above $100 a barrel again on Thursday, despite world leaders pledging to release a record amount of emergency oil reserves the day before.
Nepal to ration cooking gas over fears of nationwide shortage Nepal will begin rationing cooking gas over fears of shortages amid ongoing US-Israeli attacks on Iran, an official said on Thursday. Chandika Prasad Bhatta, executive director of state-run Nepal Oil Corporation (NOC), said that from Friday, authorities would refill only half of consumers’ empty cylinders to prolong its stocks of liquefied petroleum gas (LPG). The statement triggered panic among consumers, who formed long queues outside refilling plants across the country, but Bhatta emphasised that there were enough supplies of LPG.
British tourist faces Dubai prison sentence for 'filming Iranian missiles' Submitted by Imran Mulla on Thu, 03/12/2026 - 12:48 Man from London, aged 60, is charged with 20 others over videos and online posts related to missile attacks on Dubai Dubai's skyline on 11 March 2026 (AFP) Off A British tourist is facing two years in prison in Dubai for allegedly filming missiles hitting the city, as the United Arab Emirates cracks down on those sharing what it calls "rumours". The Londoner, aged 60, was arrested on Monday night and has been charged alongside 20 others over videos and online posts related to Iranian missile attacks on Dubai. He reportedly deleted the video immediately when asked to and insisted he did not intend to break the law.
The Liberia-flagged Shenlong reportedly crossed the choke point after the Middle East conflict began The first India-bound tanker to cross the Strait of Hormuz after the Middle East conflict began has arrived in the country. The Liberian-flagged Shenlong Suezmax, which carried crude oil from Saudi Arabia, docked at Mumbai Port on Wednesday.
A group of European countries, including Britain, France and Germany, have announced plans to release emergency oil stocks after the International Energy Agency (IEA) recommended a record drawdown from reserves to help calm surging energy prices amid escalating tensions in the Middle East.
New Delhi [India], March 12 (ANI): India has received requests from Bangladesh, Sri Lanka and the Maldives for petroleum products, MEA spokesperson Randhir Jaiswal said on Thursday. This follows growing disruptions in global fuel supplies due to the ongoing West Asia conflict triggered by the war between US-Israel and Iran.
SYDNEY/AUCKLAND: Airlines are warning passengers to expect higher ticket prices as surging jet fuel costs linked to the Middle East conflict squeeze operating margins across the global aviation industry. Australia's Qantas Airways and Air New Zealand said on March 10 that they have begun raising fares, highlighting how carriers are struggling to absorb the rapid rise in fuel prices.
Iran is still loading about 1. 5 million barrels of crude a day in March while China is receiving about 1. 25 million barrels daily, Kpler data show, even as days of Iranian pressure around the Strait of Hormuz and rising prices force consuming nations to tap emergency reserves.
Mumbai (Maharashtra) [India], March 12 (ANI): A Liberia-flagged tanker Shenlong Suezmax carrying Saudi crude has reached Mumbai Port, becoming the first India-bound vessel to pass through the Strait of Hormuz since the Iran-US conflict began The tanker had loaded crude from Ras Tanura port in Saudi Arabia on March 1 and departed on March 3.
Washington is starting to understand the key role of Russian energy in global stability, Kirill Dmitriev has said Russia and the US have held talks over the ongoing oil crisis triggered by the US-Israeli war on Iran, Kirill Dmitriev, an investment envoy to President Vladimir Putin, has announced.
IEA director says energy markets at 'critical turning point' IEA Executive Director Fatih Birol said on Thursday that global energy markets are at a "critical turning point," after his agency on Wednesday recommended a coordinated release of global reserve oil in the face of the Iran war. The closure of the Strait of Hormuz prompted the IEA's announcement, he said at an Istanbul press conference. The International Energy Agency, made up of major oil consuming nations, recommended releasing 400 million barrels from global strategic reserves to dampen one of the worst oil shocks since the 1970s, the biggest such intervention in history.
Bhilwara (Rajasthan) [India] March 12 (ANI): The textile industry in Bhilwara is facing significant challenges as the ongoing crisis in the Middle East casts uncertainty over exports and operations. Speaking to ANI, RK Jain, General Secretary of the Mewar Chamber of Commerce Industrial Organisation, said, 'Bhilwara is renowned as a textile city.
Reserves or no reserves, the outlook remains bleak as long as a major oil and gas trade route remains virtually closed.
A worldwide pledge by governments to tap emergency reserves on Wednesday has not stemmed oil’s rise.
Italy joins IEA oil reserve release with 9 million barrels Italy will contribute with 9 million barrels to a coordinated release of strategic oil reserves, joining other International Energy Agency members, a government source said on Thursday. Asked about the timing, the source said "availability was immediate. " The IEA recommended on Wednesday the release of 400 million barrels of oil, the largest such move in its history, to try to restrain soaring crude prices amid the US-Israeli war on Iran.
Mumbai (Maharashtra) [India], March 12 (ANI): A Liberian-flagged ship captained by an Indian and loaded with crude oil from the Saudi port of Ras Tanura has arrived at the port of Mumbai, via the Strait of Hormuz, Mumbai Port Trust has informed. The tanker 'Shenlong Suezmax' reached Mumbai port on Wednesday, after Iran cleared the vessel to transit through the strategic waterway, authorities said.
New Delhi [India], March 12 (ANI): With the West Asia Conflict putting stress on fuel supply routes that use the Strait of Hormuz, sources said that Iranian authorities have decided to allow Indian flagged ships to pass safely through the Strait, where maritime traffic has all but halted since the US and Israel attacked Iran.
TEHRAN (Tasnim) – Iran will not let any oil benefiting the US and its allies to pass through the strait of Hormuz as the US-Israeli aggression against the country continues.
BENGALURU/CHENNAI: Restaurants and hotels across India warned on March 10 that cooking operations could be disrupted or even halted as the Iran war squeezes supplies of liquefied petroleum gas (LPG), prompting authorities to form a panel to review the industry's requests for help. The shortage comes as the U. S.
Iran to allow India-flagged tankers pass through Strait of Hormuz, Indian source says Iran will allow India-flagged tankers to pass through the Strait of Hormuz, a key artery for global oil trade, an Indian source said on Thursday. An Iranian source denied allowing the tankers to pass through. This handout photo taken on 11 March, 2026 and released by the Royal Thai Navy shows smoke rising from the Thai bulk carrier 'Mayuree Naree' near the Strait of Hormuz after an attack.
