Falling debris from an intercepted Iranian drone has caused a "limited fire" at Aramco's Ras Tanura refining facility in Saudi Arabia, the Saudi Defence Ministry spokesperson Turki Al-Maliki said, as reported by Al Arabiya.
The escalation of the Israel-Iran conflict, marked by the reported killing of Iran's Supreme Leader Khamenei, is set to impact Indian equity markets through trade flow disruptions and a spike in crude oil prices.
Gold prices could surge to USD 6,000 per troy ounce and rupee may weaken to 92-92.5 against USD if the Middle East conflict escalates further, according to a report by Elara Capital.
Energy policy expert Narendra Taneja expects stability to return within 7 to 10 days, as he predicts the US and Israel would likely call for diplomatic negotiations after their objectives are met.
Brent crude prices have surged around 10 per cent amid escalating tensions in the Middle East following ongoing military confrontation between Iran and the United States after the killing of Iran's Supreme Leader Ayatollah Ali Khamenei.
French and Belgian forces intercepted a "shadow fleet" oil tanker in the North Sea to enforce sanctions against Russia. Following a helicopter-assisted boarding by special forces, the vessel is being escorted to Zeebrugge for seizure, aiming to cut off funding for the war in Ukraine.
Following the reported deaths of Iran's Supreme Leader and top military chiefs in US-Israeli strikes, regional tensions have erupted. While an oil tanker was targeted off Oman, Iran has launched retaliatory strikes against US-linked targets in several Gulf states, sparking fears of an esc
Three vessels operated by the Pakistan National Shipping Corporation (PNSC) were stopped on Sunday by Iran from proceeding towards the Strait of Hormuz amid escalating tensions in West Asia, the ARY News reported.
HSBC Global Investment Research has kept its Brent price forecast unchanged at USD 65 per barrel for 2026, even as it warned of rising risks following air strikes on Iran.