Iran’s Revolutionary Guards have declared the Strait of Hormuz closed, warning that any vessel attempting to pass will be attacked. Ebrahim Jabari, a senior adviser to the commander-in-chief of the Islamic Revolutionary Guard Corps (IRGC), said ships trying to transit the narrow waterway would be “set ablaze”.The strait, which lies between Iran and Oman, is one of the most critical chokepoints in global trade. It connects the Persian Gulf to the Gulf of Oman and, beyond that, the Arabian Sea. Though bordered by Iran and Oman, it is regarded as an international shipping lane.

The threat of closure has already rattled energy markets, with oil prices jumping sharply amid fears of prolonged disruption. While there is no formal international confirmation that the strait is completely sealed, tanker traffic has fallen and reports of electronic interference and attacks near the waterway have heightened alarm.

A vital artery for global oil and gas

At its narrowest point, the Strait of Hormuz is just 21 miles (33km) wide, with shipping lanes only two miles wide in each direction. Yet it carries an outsized share of the world’s energy supplies.Key facts underline its importance:

Major producers — including Saudi Arabia, Iran, Iraq, Kuwait and the United Arab Emirates — rely heavily on this corridor to export crude, much of it destined for Asian markets.Energy analysts warn that even a short disruption could lift crude prices sharply. A closure lasting weeks rather than days could push oil well above $100 a barrel and send European gas prices back towards the crisis levels seen in 2022.

Limited alternatives and rising risks

Some Gulf producers have partial workarounds:

However, Kuwait, Qatar and Bahrain remain entirely dependent on the strait. Even with alternative pipelines, analysts say a full shutdown would significantly disrupt global supply.Iran itself produces over 3 million barrels of crude per day and exports most of it — largely to China — via terminals such as Kharg Island in the northern Gulf. Any strike on these facilities would further escalate the crisis.

Echoes of the 1970s energy shock

The current tensions have revived comparisons with the oil crises of the 1970s. In 1973–74, Arab producers imposed an embargo during the Yom Kippur War, triggering fuel shortages and soaring inflation. A second shock followed in 1979 after the Iranian Revolution slashed output.Analysts now warn that a prolonged closure of Hormuz could create a disruption even more severe, given today’s higher global demand and tighter supply chains.Beyond oil, the strait is also crucial for trade in refined fuels, petrochemicals and other commodities. For countries such as India, which exports significant volumes of rice and imports large quantities of Gulf crude, the fallout could extend well beyond energy markets.The central question is duration. A brief flare-up may be absorbed. A sustained blockade, however, would have profound consequences for global inflation, shipping costs and economic stability.

NHL’s Seattle Kraken have signed defenseman Gustav Olofsson to a one-year, two-way contract worth $775,000 (Image via X/Twitter)

Ahead of the trade deadline, the NHL‘s Seattle Kraken have signed defenseman Gustav Olofsson to a one-year, two-way contract worth $775,000, adding experienced depth to their blue line as they push for a Western Conference playoff spot. On Monday, General Manager Jason Botterill confirmed the deal, which carries an average annual value of $775,000, providing the Kraken with added depth on the blue line.Olofsson happens to be a promising player and would suit the defense line-up of the team, as he was previously under contract with Seattle’s AHL affiliate, the Coachella Valley Firebirds, where he recorded two goals and 14 assists across 29 games played this season. In the 2023-24 season, he has played in just four contests for Seattle since signing with the team in free agency in 2021.

The Seattle Kraken sign Gustav Olofsson to a one-year trade deal to bolster the team’s blue line

The Seattle Kraken have signed defenseman Gustav Olofsson to a one-year trade deal to bolster the team’s blue line. Seattle Kraken General Manager Jason Botterill announced that the team has signed defenseman Gustav Olofsson to a one-year, two-way contract with a $775,000 AAV. According to the NHL, he has posted 16 points (2g/14a) in 29 games this season with the Firebirds, Seattle’s AHL affiliate. The alternate captain has amassed 51 points (7g/44a) in 151 regular-season games over four seasons (2022-26) with Coachella Valley. He also appeared in four NHL games with the Kraken between 2022 and 2024.Speaking about the trade deal, Jason Botterill stated, “We’re happy to have Gustav under contract with our team. He’s been a steady, veteran presence in Coachella and brings depth to our blueline.” (source: TSN)Originally drafted in the second round (46th overall) by the Minnesota Wild in 2013, Olofsson has NHL experience with Minnesota, the Montreal Canadiens, and the Kraken, having appeared in NHL games across three organizations earlier in his career. Olofsson has played in 63 career games at the NHL level, recording no goals and 11 assists in parts of six seasons spent with the Wild, Montreal Canadiens, and Kraken. In 395 games in the AHL, Olofsson has totaled 20 goals and 111 assists to go along with 173 penalty minutes and a plus-47 rating.Meanwhile, the Kraken entered the Western Conference on Monday with a three-point lead over the San Jose Sharks, Nashville Predators, and Los Angeles Kings for the final wild-card berth.

NEW DELHI: Over 2,000 people, including 1,600 students, were evacuated on Monday after a major oleum gas leak from a chemical unit in Maharashtra’s Palghar district left dense white fumes hanging over a five-kilometre radius, officials confirmed.The leak, which occurred around 2pm at Bhageria Industries Ltd in the Boisar MIDC industrial area.Palghar district collector Dr Indu Rani Jakhar, who was monitoring operations on the ground, said the district disaster management plan was activated immediately.“The situation is being constantly monitored in coordination with all departments concerned. Citizens should not believe in rumours,” Jakhar said, urging residents to stay indoors and follow official instructions, PTI reported.District Superintendent of Police Yatish Deshmukh reassured residents, saying authorities were “taking all possible measures to deal with the situation” and advised villagers not to panic.He said that the smoke clouds have formed over the Boisar town and the locals in the direction of wind have been evacuated. The area has also been sealed out for people.“In the Bhageria Chemicals Company, located in Boisar, an incident of Oleum gas leakage was reported around 2 pm today. District Administration and Fire Brigade are carrying out the operation to control thisgas leakage. The leakage continues. A white cloudish smoke has formed over Boisar due to an Oleum gas leak. Residential and industrial areas located in the direction of the wind are being vacated. Nakabandi is also being done. Citizens are requested to move in the opposite direction of the wind and smoke, head to a safe location and do not panic,” SP Yatish Deshmukh said.Authorities also reported that three people suffered minor eye irritation, but no serious injuries were recorded.According to a press release from the district administration, the leak occurred from a 2,500-litre oleum day tank, releasing hazardous fumes that spread quickly due to strong winds. The resulting cloud affected nearby schools, factories, and residential areas, prompting authorities to evacuate over a thousand factory workers and more than 1,600 students from a local school as a safety measure.Emergency teams from the National Disaster Response Force (NDRF), the Bhabha Atomic Research Centre (BARC), and the Fire Brigade rushed to the site but initially faced difficulty reaching the exact source because of the high smoke concentration.“Due to the high smoke concentration in affected areas, response teams were facing difficulties in reaching the exact location of the leak,” the official release stated.Once inside, chemical experts and NDRF personnel, equipped with self-contained breathing apparatus (SCBA), managed to locate the leak and deploy sandbags around the tank to suppress the fumes, officials added.Authorities said the cause of the leak remains under investigation.The Palghar administration continues to monitor air quality and has assured that there is no immediate threat to residents. Dr Jakhar added that coordinated efforts are underway with various departments to ensure full containment and prevent recurrence.

Representative AI image

India on Saturday reviewed its crude oil and fuel supply position amid escalating geopolitical tensions in the Middle East, with the government asserting that it is closely monitoring developments to safeguard domestic availability.“In view of ongoing geopolitical developments in the Middle East, the Minister of Petroleum & Natural Gas reviewed the supply situation for crude oil, LPG, and other petroleum products with senior officials from the Ministry and PSUs,” said the ministry in a statement on X.

Further assuring measures to keep supply stable it added, “We are continuously monitoring the evolving situation and all steps will be taken in order to ensure availability and affordability of major petroleum products in the country.”India relies on imports for more than 85 per cent of its crude oil needs, with a substantial portion coming from West Asia. According to industry estimates, cited by ET, every $1 rise in global crude prices increases India’s annual import bill by about $2 billion, exerting pressure on inflation, widening the current account deficit and complicating domestic fuel pricing dynamics.Crude oil is a key raw material in a wide range of everyday consumer goods, including detergents, biscuits, toothpaste, paints and packaging materials. Petroleum-based derivatives are extensively used in products such as soaps, shampoos, creams, hair oils, plastic bottles and tubes. These inputs account for over 25 per cent of production costs for FMCG companies and nearly 40 per cent for paint manufacturers. As a result, any sustained rise in crude prices could translate into higher costs for these daily-use items.Oil supply troubles further escalted as Qatar’s state-run energy major halted liquefied natural gas (LNG) production following Iranian drone attacks on key industrial facilities, triggering a sharp spike in European gas prices. Saudi Arabia, meanwhile, said it had temporarily shut down certain units at the Ras Tanura oil refinery in its eastern region after a fire broke out in the aftermath of a separate drone strike.In a statement issued on Monday, QatarEnergy said it had suspended LNG and related output due to military attacks on its operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City. The company, the world’s largest LNG producer, cited security concerns following the strikes. ““Due to military attacks on QatarEnergy’s operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City in the State of Qatar, QatarEnergy has ceased production of liquefied natural gas (LNG) and associated products,” it said, as quoted by Al Jazeera.Earlier in the day, Qatar’s Defence Ministry said two drones launched from Iran had targeted infrastructure in the country. One drone struck a water tank linked to a power plant in Mesaieed, while the other hit an energy facility in Ras Laffan Industrial City operated by QatarEnergy. Authorities said there were no reported casualties.The disruption had an immediate impact on global markets. European natural gas prices surged by nearly 50 per cent shortly after the announcement, reflecting fears of prolonged supply constraints from one of the world’s most critical LNG exporters.

MS Dhoni (Image credit: BCCI/IPL)

NEW DELHI: The whistles were back in Chennai — and so was the laughter. Preparations for IPL 2026 officially began as former India and Chennai Super Kings skipper Mahendra Singh Dhoni joined current captain Ruturaj Gaikwad and the rest of the squad for their first practice session at the franchise’s high-performance centre on Sunday.The five-time champions kicked off their camp with several Indian players reporting for duty, while overseas recruits and foreign coaching staff are yet to assemble. For now, assistant coaches Sridharan Sriram and Rajiv Kumar are overseeing the sessions along with strength and conditioning coach Greg King.

But it didn’t take long for the spotlight — and the smiles — to centre around Dhoni.Facing a left-arm spinner during the nets, Dhoni was at his mischievous best. The bowler bowled a wide ball, and instead of simply letting it go, Dhoni paused, theatrically gestured for a wide and broke into a playful, dance-like signal. Teammates, support staff and everyone around the ground burst into laughter as the 44-year-old reminded everyone that even pre-season nets can double up as entertainment when he’s around.Among those present at the session were Ayush Mhatre, Mukesh Choudhary, Rahul Chahar, Urvil Patel, Ramakrishna Ghosh and Sarfaraz Khan. The franchise later shared visuals from the training, with Dhoni and Gaikwad batting in adjacent nets — a symbolic passing-of-the-baton image that sent fans into a frenzy online.While Dhoni entertained, Gaikwad looked sharp and fluent, showcasing assured footwork and clean timing. Sarfaraz, meanwhile, was seen keenly observing Dhoni’s net session — perhaps picking up a trick or two from the master finisher.New signings Prashant Veer and Kartik Sharma also joined the squad and took part in the drills as preparations gathered pace.This phase of the camp largely features Indian domestic players. The internationals currently on national duty will join later. Sanju Samson and Shivam Dube, who are part of India’s T20 World Cup campaign, are expected to link up with the squad after the tournament concludes on March 7. Shreyas Gopal, fresh from Karnataka’s Ranji Trophy final run, will also report at a later date.Earlier, the franchise unveiled their jersey for the upcoming season, officially setting the tone for another blockbuster IPL campaign.Squad: Ruturaj Gaikwad, Dewald Brevis, Ayush Mhatre, Sarfaraz Khan, Matt Short, Sanju Samson, MS Dhoni, Urvil Patel, Kartik, Shivam Dube, Zak Foulkes, Ramakrishna Ghosh, Shreyas Gopal, Jamie Overton, Akeal Hosein, Aman Khan, Veer, Noor Ahmad, Rahul Chahar, Khaleel Ahmed, Nathan Ellis, Matt Henry, Gurjapneet Singh, Anshul Kamboj, and Mukesh Choudhary.

Iran’s Natanz nuclear facility was struck during recent US and Israeli military operations, Iran’s envoy to the UN nuclear watchdog said on Monday. “Again they attacked Iran’s peaceful, safeguarded nuclear facilities yesterday,” Reza Najafi told reporters at a meeting of the 35-nation board of governors of the International Atomic Energy Agency. Asked which sites were hit, he replied: “Natanz,” reported Reuters.

The development comes amid heightened tensions over Iran’s nuclear programme. In June, the United States carried out strikes on Iranian nuclear facilities that Washington says were part of a programme aimed at developing nuclear weapons. Tehran maintains its nuclear activities are for civilian purposes.Meanwhile, Iranian president Masoud Pezeshkian said Tehran would rebuild its nuclear infrastructure. “Destroying buildings and factories will not create a problem for us, we will rebuild and with greater strength,” he told state media during a visit to Iran’s atomic energy organization, adding that the country does not seek nuclear weapons.“It’s all intended for solving the problems of the people, for disease, for the health of the people,” Pezeshkian said, referring to Iran’s nuclear activities.US president Donald Trump has warned that he would order fresh attacks on Iran’s nuclear sites if Tehran attempts to restart facilities bombed in June.IAEA director general Rafael Mariano Grossi expressed concern over the situation, warning that the “possibility of radiological release cannot be ruled out”, according to ANI.Speaking at the IAEA board of governors meeting, Grossi said: “Let me underline that the situation today is very concerning. We cannot rule out a possible radiological release with serious consequences, including the necessity to evacuate areas as large or larger than major cities.”He added that the agency has “extensive knowledge of the nature and location of nuclear and radiological material in the region” and is ready to provide assistance in case of an attack or accident causing a radiological release. Grossi also noted that several countries in West Asia operate nuclear power plants or research reactors, increasing the risks amid military escalation, and urged “utmost restraint in all military operations.”

India and Canada took a step towards strengthening their economic ties on Monday, as Prime Minister Narendra Modi and Canadian PM Mark J Carney agreed to pursue a trade-led partnership to boost bilateral trade to $50 billion by 2030 and speed up negotiations on a Comprehensive Economic Partnership Agreement (CEPA). The two leaders held bilateral talks at Hyderabad House in New Delhi, where they discussed critical minerals cooperation, uranium procurement, the exchange of Terms of Reference for CEPA, enhance maritime domain awareness and the establishment of a defence dialogue. Our goal is to reach $50 billion in trade by 2030. Unlocking the full potential of economic cooperation is our priority. Therefore, we have decided to finalise the Comprehensive Economic Partnership Agreement soon. This will create new investment and employment opportunities in both countries. Canadian pension funds have invested $100 billion in India. This is a symbol of their deep belief in India’s growth story. Speaking after the talks, PM Modi emphasised that economic collaboration would anchor the next phase of ties between the two countries. “Today, we discussed transforming this vision into a next-level partnership. Our goal is to reach $50 billion in trade by 2030. Unlocking the full potential of economic cooperation is our priority. Therefore, we have decided to finalize a comprehensive economic partnership agreement soon”, PM Modi said. He also noted that the proposed agreement would generate fresh opportunities across sectors in both economies. “This will create new investment and employment opportunities in both countries. Canadian pension funds have invested $100 billion in India. This is a symbol of their deep belief in India’s growth story,” he added. PM Modi added that the two sides would also engage business leaders later in the day, adding that their recommendations would help shape the future economic roadmap. Several memoranda of understanding were exchanged in the presence of the two leaders. Canada’s Minister of International Trade Maninder Sidhu and Union Commerce Minister Piyush Goyal exchanged documents relating to the CEPA Terms of Reference and a Declaration of Intent on a Joint Pulse Protein Centre of Excellence. In a separate set of agreements, Canadian Foreign Affairs Minister Anita Anand and Jaishankar also exchanged several MoUs covering critical mineral cooperation, promotion of renewable energy use, and cultural cooperation. Another trilateral MoU involving India, Canada and Australia on cooperation in technology and innovation was also exchanged. Recalling his earlier interaction with Carney at the G7 meeting in Canada, Modi also said, “There are very few people in the world whose CVs include central banking leadership in two countries. Since our first meeting, our relationship has been energised, mutual trust and positivity have blossomed.” The visit is being seen as an important step in the ongoing normalisation of India–Canada relations, with both sides placing strong emphasis on trade, investment and long-term economic cooperation.