international energy agency

In a breathtaking reveal, NASA has shared a captivating photo of Earth’s ‘airglow’ captured from the International Space Station, where the planet radiates with a brilliant orange hue. This elusive phenomenon, a result of molecules emitting energy they absorbed from the Sun, is typically invisible to the naked eye from the surface.

Iran's Supreme Leader has ordered the country's near-weapons-grade enriched uranium stockpile to remain within Iran, complicating peace talks. This directive hardens Tehran's stance, as the US and Israel demand its removal. The move comes amid ongoing regional conflict and deep suspicion of further US airstrikes.

The UAE strongly condemned a drone strike on its Barakah Nuclear Power Plant, calling it a dangerous escalation and a threat to regional stability. Saudi Arabia also intercepted drones from Iraq. Amidst rising tensions, US President Trump warned Iran to act swiftly, while Tehran threatened retaliation against perceived US-Israeli aggression.

Iran has reportedly agreed in principle to surrender its enriched uranium stockpile to the US as part of a peace deal. This significant concession, aimed at de-escalating tensions and reopening the Strait of Hormuz, comes after US military threats. While a deal is "largely negotiated," final details on the uranium transfer and broader nuclear talks are pending.

JPMorgan Chase CEO Jamie Dimon warns of US weaknesses in defense and supply chains. He announces a ten-year, $1.5 trillion initiative to invest in critical sectors. This plan targets advanced manufacturing, defense, energy, frontier technologies, and pharmaceuticals. Investors are watching closely as economic strength and national security become increasingly linked.

India's economy has faced significant challenges from global oil price surges over the past fifty years. From the 1973 Arab embargo to the recent Hormuz disruption, these shocks have impacted inflation and foreign exchange reserves. Policymakers have continuously adapted strategies to manage these crises, balancing economic stability with consumer needs.

Jammu and Kashmir government has mandated austerity measures across all departments, including a ban on official hospitality and new vehicle purchases. The move, aimed at rationalizing expenditure, has drawn sharp criticism from the opposition, which alleges a broken promise on job creation and a dishonest administration. Strict controls are now in place for various expenditures.

Analysts believe that if supply disruptions persist for an extended period, refiners may eventually have to scale back refinery runs or reduce crude processing activity. They say this could partly explain Prime Minister Narendra Modi urging citizens to conserve fuel.

Prime Minister Modi's five-nation tour secured nearly $40 billion in investment, with over 50 global firms pledging fresh capital and expansion. Key sectors like semiconductors, defence, and energy saw significant commitments. India elevated ties with the UAE, Netherlands, Sweden, and Italy, fostering strategic partnerships and boosting economic cooperation.

A Marshall Islands-flagged LPG carrier carrying nearly 20,000 tonnes of fuel safely docked in Kandla, having crossed the Strait of Hormuz. This marks a crucial energy supply movement amidst ongoing Middle East conflict, which has disrupted India's crude reserves by nearly 15%.

Oil prices saw a dip as hopes for a US-Iran deal to ease Middle East tensions and reopen the Strait of Hormuz emerged. Despite earlier drops, crude prices are recovering slightly. President Trump emphasized his focus on preventing Iran's nuclear ambitions and ensuring the Strait's accessibility, warning against interference.

CNG prices in Delhi-NCR have seen another increase, rising by Re 1 per kg to ₹80.09, following a ₹2 hike just two days prior. This latest revision, effective May 17, mirrors broader fuel price increases across India, attributed to rising global energy costs amid the West Asia conflict.

A potential 60-day ceasefire extension between the US and Iran is nearing, aiming to reopen the Strait of Hormuz and allow Iranian oil exports. This deal, brokered by Pakistan, includes lifting US port blockades and sanctions waivers, contingent on Iran negotiating its nuclear program and ending the Israel-Hezbollah conflict. Global oil markets are closely monitoring developments.

India expressed deep concern over Iranian drone attacks targeting the Barakah nuclear facility in the UAE, calling it a dangerous escalation. The strike, which caused a fire near an electrical generator but no injuries or leaks, has intensified regional tensions. The UAE condemned the act as unprovoked and a threat to its sovereignty.

China's economic recovery is facing headwinds as factories slow and consumer spending falters, with April data revealing a significant slowdown. Weak domestic demand, coupled with a challenging global environment marked by geopolitical conflicts and rising energy costs, is squeezing growth. While exports remain strong, they are insufficient to offset internal weaknesses, prompting concerns about the need for further policy support.