Kuwait alleges Iran attempted an attack on Bubiyan Island as U.S. President Donald Trump visits China and Persian Gulf tensions keep rising. The Strait of Hormuz remains central to concerns over shipping and security, with Israel deploying air defense near the UAE. Norway also reports stranded vessels due to disruptions, underscoring how fast the crisis could escalate.
A widening crisis around the Strait of Hormuz is raising recession fears for Gulf economies as attacks and shipping restrictions disrupt maritime security, energy supplies, and key trade routes. Oman, Qatar, Saudi Arabia, the UAE, Iran, Israel, and the US are in talks aimed at mediation and ceasefire efforts. The fallout could ripple into global growth and stability.
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Fuel prices in India stayed unchanged on April 24 despite global crude volatility linked to rising West Asia tensions and the Strait of Hormuz crisis. Oil marketing companies reportedly update petrol and diesel rates daily from 6 AM, using international crude benchmarks. In major cities including Kolkata, Mumbai and Chennai, drivers may not see any change even as shipping disruptions keep international prices under pressure.
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