From crude oil shocks and West Asia tensions to steady LPG arrivals at Gujarat ports and smoother export clearances—here are today’s top energy and economic developments you need to know.
CEA warns $130 crude could cut India’s GDP growth by 1%
India’s CEA, V Anantha Nageswaran, warns that crude at $130 a barrel for 2–3 quarters could cut GDP growth by 1%, push inflation to 5.5%, and widen the current account deficit to 3.2%. At $90 a barrel, growth remains largely unaffected. The parliamentary panel recommends a Strategic Energy Mitigation Framework to protect the economy from oil shocks.
By Shishir Sinha
Iran’s Ali Larijani and Basij chief reportedly killed in Israeli attacks
Israel killed top Iranian officials Ali Larijani and Gen. Gholam Reza Soleimani in overnight strikes, while airstrikes hit Tehran and Beirut. A drone attack in the UAE caused a fire at an oil tank farm. Missile barrages from Iran triggered air defences in Qatar, and Gulf shipping through the Strait of Hormuz has been disrupted. The conflict has killed thousands in Iran, Lebanon, Israel, and 13 US troops, with civilians in Iran paying a “heavy price.” Albania labelled Iran’s Revolutionary Guard a terrorist group, while the Festival of Fire in Iran faces government restrictions.
By Reuters
Second LPG tanker from Strait of Hormuz reaches Gujarat coast amid supply concerns
India received a fresh LPG shipment at Gujarat’s coast for the second day in a row, as the Indian-flagged MT Nanda Devi arrived near Vadinar carrying 46,500 metric tonnes. The cargo will be transferred ship-to-ship to MT BW Birch to reduce port congestion and speed up operations. This follows Monday’s arrival of MT Shivalik at Mundra Port, which brought 46,000 MT of LPG from the Strait of Hormuz. Gujarat’s ports are playing a key role in handling bulk energy imports and ensuring steady LPG supply for households and essential services, with priority given to these shipments.
By BL Ahmedabad BureauA
Hormuz disruption: CBIC allows BTT clearance for cargo loaded at one port, offloaded at another
CBIC allows containers loaded at one Indian port but offloaded at another to be cleared under the Back-to-Town (BTT) procedure, easing delays for exporters affected by the Strait of Hormuz disruption. Customs at the port of landing will verify documents and coordinate with the original port for incentives. The move is expected to streamline cargo handling and reduce export bottlenecks.
By T E Raja Simhan
Script & VO: Prethicshaa Gurumoorthy
Published on March 18, 2026