Iran has hardened its negotiating stance amid the ongoing war with the United States and Israel. Senior officials in Tehran have signalled that any move towards peace talks would hinge on sweeping concessions from Washington. The demands are likely to be unacceptable to US President Donald Trump, Reuters reported, citing three senior Iranian sources.At the core of Tehran’s position is a firm insistence that any negotiations must first end the war, while also securing guarantees against future military action, compensation for wartime losses, and formal control over the strategically vital Strait of Hormuz.Iran has also drawn a clear red line around its ballistic missile programme, refusing to discuss any limitations — a position that has remained unchanged even as backchannel diplomacy intensifies.Despite Trump’s claim on Monday that Washington had held “very, very strong talks” with Tehran more than three weeks into the conflict, Iranian officials have publicly denied any direct engagement. Instead, the three sources said Iran has only held preliminary discussions with intermediaries including Pakistan, Turkey and Egypt to assess whether conditions exist for meaningful negotiations.A European official corroborated that no direct talks have taken place, noting that Egypt, Pakistan and Gulf states have been relaying messages between the two sides. Separate sources in Pakistan indicated that direct negotiations to end the war could potentially be hosted in Islamabad later this week.If talks do materialise, Iran is expected to send Parliament Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, although the final decision-making authority would rest with the hardline Islamic Revolutionary Guard Corps (IRGC), whose influence has grown significantly since the conflict began.Israeli officials, however, remain sceptical about the prospects of a breakthrough. Three senior figures said they doubt Tehran would agree to US demands, which they believe would include curbs on both its nuclear and ballistic missile programmes — conditions Iran views as existential threats to its security.Iran’s negotiating posture is closely tied to its military strategy. Its deployment of ballistic missiles and its ability to threaten closure of the Strait of Hormuz — a chokepoint for roughly a fifth of global oil and liquefied natural gas flows — have been among its most effective responses to US-Israeli strikes. Analysts say relinquishing these capabilities would leave Iran vulnerable to future attacks.Trust deficits are also shaping Tehran’s approach. Iranian strategists remain wary after coming under attack following an earlier agreement last year, even as negotiations were ongoing. Continued Israeli military operations in Lebanon and Gaza after ceasefires have further deepened scepticism about the durability of any potential deal.Domestic dynamics within Iran are adding another layer of complexity. The growing clout of the Revolutionary Guards, uncertainty surrounding the leadership of newly appointed Supreme Leader Mojtaba Khamenei — who has yet to make a public appearance — and a strong internal narrative of wartime resilience are all constraining Tehran’s room for compromise.Meanwhile, the conflict continues to widen. Israel’s Defence Minister said on Tuesday that its military intends to control southern Lebanon up to the Litani River, underscoring the escalating regional stakes even as diplomatic efforts struggle to gain traction.

Donald Trump with Saudi crown prince (Image/AP)

As the war in the Middle East enters its fourth week, a new report has revealed that Saudi Arabia’s Crown Prince Mohammed bin Salman has been urging US President Donald Trump to continue military operations against Iran. He described the conflict as a critical moment to reshape the region.According to The New York Times, the Saudi crown prince has, in recent discussions with Trump, pushed for sustained pressure on Iran. He argued that the ongoing US-Israel military campaign presents a “historic opportunity” to remake the Middle East. He has conveyed that Iran poses a long-term threat to Gulf nations and that this threat can only be addressed by removing its current government.These developments come at a time when the conflict has significantly escalated, raising concerns over regional stability, global energy markets and the risk of a prolonged war. While Israeli Prime Minister Benjamin Netanyahu has also viewed Iran as a long-term threat, analysts note that Saudi Arabia’s concerns differ, particularly regarding the risks posed by a destabilised or failed Iranian state.Despite these reports, Saudi Arabia has publicly denied pushing for an extension of the war. In an official statement, the government said, “The kingdom of Saudi Arabia has always supported a peaceful resolution to this conflict, even before it began”. “Our primary concern today is to defend ourselves from the daily attacks on our people and our civilian infrastructure. Iran has chosen dangerous brinkmanship over serious diplomatic solutions. This harms every stakeholder involved but none more than Iran itself,” the statement further read.The war has already had serious economic and security consequences for Saudi Arabia. Iranian missile and drone attacks, launched in response to US-Israel strikes, have disrupted oil markets and threatened key infrastructure. The Strait of Hormuz, a vital route for global energy supplies, has been severely affected, impacting exports from Gulf countries including Saudi Arabia, the UAE and Kuwait.While Trump has alternated between signalling a possible de-escalation and hinting at further escalation, he recently claimed in his Truth Social post that there had been “productive conversations regarding a complete and total resolution of our hostilities”.Prince Mohammed has argued in favour of stronger action, including targeting Iran’s energy infrastructure and has even suggested the possibility of ground operations to weaken the government in Tehran, according to The New York Times. Analysts also caution that Saudi Arabia faces a complex dilemma. While it may see strategic gains in weakening Iran, it is also vulnerable to regional instability. Past attacks, including a 2019 strike on Saudi oil facilities, have shown the kingdom’s exposure to Iranian retaliation.Saudi Arabia’s broader economic ambitions, particularly its Vision 2030 plan, could also be at risk if the conflict continues. A prolonged war could deter investment, disrupt energy exports and strain financial resources at a time when the country is undertaking major economic reforms.

NEW DELHI: India’s state-run refiners are holding back from purchasing US-permitted Iranian oil cargoes despite a fresh sanctions waiver, as logistical, financial and regulatory uncertainties outweigh the short-term opportunity.According to a Bloomberg report, the hesitation comes after the United States issued a one-month waiver on Friday, allowing countries to buy Iranian crude already “on the water”, in a bid to ease global oil prices. However, state-owned refiners are sceptical of this purchase. Unresolved issues around shipping, insurance and payment mechanisms have collectively prevented any deals from materialising.At the core of the reluctance is the waiver’s tight timeline.In oil trade terms, a 30-day window is widely viewed as insufficient to negotiate contracts, complete due diligence, arrange financing, secure insurance, and execute delivery. Refiners fear that any delay could push shipments beyond the waiver period, exposing them to sanctions risk.Compounding this is a logistics bottleneck. Marine insurance—critical for cargoes worth millions of dollars—remains a grey area.Most global insurers operate within Western regulatory frameworks and may be unwilling to underwrite shipments tied to Iran, given the risk that the waiver could lapse mid-voyage. Without indemnity cover, tankers may also face rejection at ports, adding another layer of uncertainty.Financial channels present an equally significant hurdle. Iran’s limited access to the global banking system, particularly the SWIFT network, has left refiners unclear about viable payment mechanisms. Questions remain over which currency to use, which intermediary banks are compliant, and whether transactions could trigger future scrutiny. This has slowed due diligence—the verification process required before entering such trades—especially after a five-year gap in dealings.“Issues like shipping and insurance are unclear, and refiners are uncertain about payment mechanisms, currency, insurance and even whether Iran-linked vessels would ultimately be accepted at Indian ports,” Bloomberg reported citing sources familiar with the matter.The lack of a formal government framework from New Delhi has further reinforced caution. Refining executives have indicated that official guidance or a policy shield would make such purchases more viable. In its absence, companies are left to independently assess legal and operational risks, encouraging a risk-averse approach.This caution mirrors sentiment in other major Asian markets. China’s state-owned Sinopec has also indicated it would avoid Iranian shipments, citing the narrow delivery window under the waiver.India’s stance contrasts sharply with its earlier response to Russian oil waivers. There, established trade routes, payment systems and shipping arrangements allowed refiners to move quickly. With Iran, those commercial “plumbing” systems have largely been dormant since 2019, when US sanctions halted imports.Historically, Iran was a significant supplier to India, accounting for as much as 11.5% of total crude imports at its peak, according to Kpler data. However, years of disengagement have eroded operational readiness, making a rapid re-entry into the trade difficult.While Iranian sellers and intermediaries have approached Indian refiners with offers of crude and liquefied petroleum gas—an important cooking fuel currently in short supply—there has been little progress even on pricing or delivery timelines.The broader takeaway is that while the US waiver provides a theoretical opening, the practical barriers—legal ambiguity, logistical constraints and financial friction—are proving decisive. For Indian refiners, the risk of getting entangled in sanctions complications currently outweighs the benefit of discounted barrels.Unless the waiver is extended or backed by clearer government-to-government arrangements, industry participants expect India to remain on the sidelines, allowing this brief window for Iranian oil to pass largely unused.

Gold prices extended losses for the fifth consecutive session on Tuesday, even as retail rates in major cities moved higher. Gold contracts for April delivery on the Multi Commodity Exchange (MCX) fell by Rs 2,260, or 1.62 per cent, to Rs 1,37,000 per 10 grams, amid continued uncertainty over geopolitical developments in the Middle East.Analysts said bullion remained under pressure due to conflicting signals around the Iran-Israel-US situation, which has kept the market volatile. In the international market, gold futures for the April contract slipped $62.4, or 1.42 per cent, to $4,344.9 per ounce. According to news agency PTI, experts said investors are now watching key US macroeconomic data, including ADP employment and PMI figures, for further clues on the Federal Reserve’s rate-cut path.

City-wise gold rates today

Gold rate in Bengaluru today:

Bengaluru’s 24K gold price stands at Rs 14,035 per gram, while 22K gold costs Rs 12,865 and 18K gold Rs 10,526 per gram. Compared to yesterday, 24K gold rose by Rs 470, 22K by Rs 430 and 18K by Rs 352.

Gold rate in Delhi today:

In Delhi, 24K gold is priced at Rs 14,050 per gram, 22K at Rs 12,880 and 18K at Rs 10,541. Since yesterday, 24K gold has increased by Rs 470, 22K by Rs 430 and 18K by Rs 352.

Gold rate in Mumbai today:

Mumbai’s 24K gold rate stands at Rs 14,035 per gram. The 22K variant is at Rs 12,865, while 18K gold is priced at Rs 10,526. Compared to the previous day, 24K gold climbed by Rs 470, 22K by Rs 430 and 18K by Rs 352.

Gold rate in Chennai today:

In Chennai, 24K gold is trading at Rs 14,182 per gram, while 22K gold is priced at Rs 13,000 and 18K at Rs 10,820. Compared to yesterday, 24K gold is up by Rs 262, 22K by Rs 240 and 18K by Rs 180.

Gold rate in Kolkata today:

Kolkata records 24K gold at Rs 14,035 per gram, 22K at Rs 12,865 and 18K at Rs 10,526. Prices have increased by Rs 470, Rs 430 and Rs 352 respectively.

Gold rate in Hyderabad today:

Hyderabad sees 24K gold at Rs 14,035 per gram, 22K at Rs 12,865 and 18K at Rs 10,526. All three categories are higher by Rs 470, Rs 430 and Rs 352 respectively.

Gold rate in Ahmedabad today:

In Ahmedabad, 24K gold is priced at Rs 14,040 per gram, 22K at Rs 12,870 and 18K at Rs 10,531. Compared to yesterday, 24K gold is up Rs 470, 22K up Rs 430 and 18K up Rs 352.

Gold rate in Jaipur today:

Jaipur’s 24K gold rate stands at Rs 14,050 per gram, while 22K is Rs 12,880 and 18K Rs 10,541. Prices have risen by Rs 470, Rs 430 and Rs 352 respectively.

Gold rate in Bhubaneswar today:

In Bhubaneswar, 24K gold is retailing at Rs 14,035 per gram, 22K at Rs 12,865 and 18K at Rs 10,526. Compared to yesterday, prices are higher by Rs 470, Rs 430 and Rs 352 respectively.

Gold rate in Pune today:

Pune records 24K gold at Rs 14,035 per gram, 22K at Rs 12,865 and 18K at Rs 10,526. Prices have increased by Rs 470, Rs 430 and Rs 352 respectively.

Gold rate in Kanpur today:

Kanpur’s 24K gold price stands at Rs 14,050 per gram, 22K at Rs 12,880 and 18K at Rs 10,541. Compared with the previous day, prices have risen by Rs 470, Rs 430 and Rs 352 respectively.

PM Narendra Modi (ANI image)

NEW DELHI: Prime Minister Narendra Modi on Tuesday addressed the impact of the ongoing West Asia war on India’s fuel supplies, assuring the country of sufficient crude oil storage and uninterrupted supply arrangements.Speaking in the Rajya Sabha, PM Modi said the conflict has created a serious fuel crunch globally and India is also feeling its impact. “West Asian war has impacted us all. I want to express the government’s stance on this war in front of the House and the people of India. This war has been going on for over 3 weeks. It has created a serious fuel issue in the world. The situation in India is worrying too. This has impacted our ways of business,” he said.Highlighting India’s preparedness, PM Modi said that in the past 11 years, the country has created 53 lakh metric tonnes (MT) of strategic oil reserves, with work underway to add another 65 lakh MT. “The country is working on arranging over 65 lakh metric ton gas. Along with that, India’s refining capacity has also been increased in the past 10 years. I want to assure the country that India has enough crude oil storage and non-stop supply arrangements,” PM Modi said.He added that the Centre has started a Rs 70,000-crore project to manufacture ships. PM Modi further assured that his government is trying to procure gas and crude oil from all available sources.“Govt has constituted 7 empowered groups to evolve strategies on fuel, supply chains, fertilisers, among others,” he said. Asserting the stance of India in the ongoing conflict, PM Modi said that the nation wants peace in the region through dialogue and diplomacy.On the broader economic impact, the Prime Minister acknowledged the global disruption caused by the crisis, saying, “West Asia crisis has shaken world economy, will take a long time to recover. Govt making all efforts to minimise impact of West Asia crisis on India,” he said. PM Modi reaffirmed the commitment to maintain high economic growth. “Irrespective of crisis, maintaining high economic growth is our responsibility,” he said. The ongoing conflict in West Asia has entered its fourth week, disrupting trade routes through the Strait of Hormuz. The war started on February 28 with the killing of Iran’s former Supreme Leader Ayatollah Khamenei.