Latest Sectors News

The solution uses solar PV Panels to power standard electrical induction stoves, eliminating dependence on both the electricity grid and cooking gas View More

Antique Research View More

It is also entering energy storage with plans for a 5 GWh battery facility, aligning with rising clean energy demand. View More

A prolonged blockage of the Strait of Hormuz for the next six to 12 months will mean an unavoidable recession, the billionaire investor said. View More

Ken Griffin, chief executive officer of Citadel Advisors LLC, at the Semafor World Economy Summit during the International Monetary Fund (IMF) and World Bank Spring meetings in Washington, DC, US, on Tuesday, April 14, 2026. Aaron Schwartz | Bloomberg | Getty Images Citadel CEO Ken Griffin said Tuesday that the global economy is headed toward a recession if the Strait of Hormuz stays shut for much longer. "Let's assume [the strait is] shut down for the next six to 12 months — the world's going to end up in a recession," Griffin said on stage at the Semafor World Economy conference in Washington, D.C. "There's no way to avoid that." As a result, the world is going to see a massive shift toward alternative fuel sources, including wind, solar and nuclear, he added. To be sure, the hedge fund leader thinks the consequences of the war would have been worse if the U.S. delayed any strikes until Iran's military capabilities had grown. Stocks have managed to rebound back to where they were before the U.S. first attacked Iran in February, but the optimistic sentiment among investors is contingent on the duration of the war in the Middle East. Many expect risks of an escalation in tensions between the two countries are not at all priced into the market. Global economies especially in Asia remain vulnerable to spikes in oil prices, which remain elevated at around $100 a barrel. That's off their highs during the conflict, but remain far above where they were before the war, at just below $70 a barrel. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The projects are aimed at boosting renewable energy capacity and ensuring round-the-clock power supply through integrated storage solutions View More

India has achieved its fastest-ever addition of 50 GW of solar capacity in just 14 months, reaching the landmark 150 GW milestone View More

The U.S. naval blockade of the Strait of Hormuz threatens to halt more tanker traffic, sending oil surging and risks drawing China into a widening confrontation with Washington. View More

In this article@CL.1@LCO.1Follow your favorite stocksCREATE FREE ACCOUNT Lightning occurs when META 4, an Oil Products Tanker, sails into Muscat Anchorage on March 21, 2026 at Sultan Qaboos Port in Muscat, Oman. Elke Scholiers | Getty Images President Donald Trump ordered a naval blockade of the Strait of Hormuz on Sunday, dimming hopes for a quick end to the conflict in the Middle East and escalating a standoff with Iran that has already triggered the worst energy shock in history. The blockade would take effect at 10 a.m. ET Monday, targeting vessels of all nations entering or departing Iranian ports and coastal areas, including those on the Arabian Gulf and Gulf of Oman, the U.S. Central Command said in a statement. Tanker traffic through the strait, which had begun to inch higher after a two-week ceasefire announced by Trump last week, came to a halt again within hours of Trump's announcement, according to Lloyd's List Intelligence. At least two vessels that had appeared to be heading for the exit turned back.Crude oil surged as investors scrambled to price in a further squeeze on Persian Gulf supply. U.S. WTI futures for May delivery jumped more than 8% to $104.40 a barrel, while Brent crude rose over 7% to $101.86. Trump's order came after 21 hours of weekend negotiations between Washington and Tehran collapsed without an agreement on Iran's nuclear program, control of the waterway, and Israel's continued attacks against the Iranian-backed Hezbollah in Lebanon. Deepening the oil shock Before the opening strikes by the U.S. and Israel against Iran on Feb. 28, roughly one-fifth of the world's oil passed through the Strait of Hormuz. That flow has since slowed to a trickle, upending supply chains for oil, fertilizers, apparel and industrial goods. Analysts have warned that clearing the backlog could take weeks even after a resolution.A full blockade would further tighten the squeeze. "Taking more oil off the market — particularly the only oil that is now getting out from the Persian Gulf — will drive oil prices further up ... [to] around $150 per barrel," Trita Parsi, executive vice president of the Quincy Institute for Responsible Statecraft, said on CNBC's "The China Connection" on Monday. Since neither side has explicitly stated that talks won't resume or that the ceasefire is over, all these moves should be treated as tactics and threats within the negotiations.Trita ParsiExecutive vice president, Quincy Institute for Responsible Statecraft Besides crude, commodity prices for fertilizer and helium — critical inputs for food production and semiconductor manufacturing — are likely to keep climbing, fanning inflation that is already accelerating, said Ben Emons, managing director at Fed Watch Advisors. The IMF and World Bank officials last week signaled they would downgrade global growth forecasts and raise inflation projections, warning that emerging markets would be hit hardest."The economic scarring from attacks on energy facilities and ports in Iran and other Gulf nations could continue to keep supply under stress in emerging Asia," Barclays said. "It remains to be seen how quickly the extraction, refining, and loading of oil and gas can be normalized." The month-long disruption in the Strait of Hormuz has sparked warnings of an energy shortage worse than the 1970s oil crisis, when an embargo by Arab producers on countries aligned with the U.S. quadrupled oil prices, prompting fuel rationing across major economies. The Liberia-flagged crude oil tanker Shenlong Suezmax successfully docked at Mumbai Port after navigating the high-risk Strait of Hormuz amid the intensifying West Asia conflict on March 11, 2026 in Mumbai, India. Hindustan Times | Getty Images Fatih Birol, head of the International Energy Agency, last week called the disruption the worst energy shock the world has ever seen — more severe than the oil crises of the 1970s and the Ukraine war combined."This is a historic disruption to world oil," Daniel Yergin, vice chairman of S&P Global, said in an interview with Barron's last month. "There has never been anything of this scale. Even the oil crises of the 1970s, the Iran-Iraq war of the 1980s, Iraq's invasion of Kuwait in 1990 — none of those come close to the magnitude of this disruption." Yet the price response has so far been more muted, and economic growth may prove more resilient than feared, said David Lubin, senior research fellow at Chatham House. He noted that the global economy is less oil-intensive than in the past, with oil use per unit of GDP now requiring roughly 40% of a barrel of oil, compared with a full barrel in the early 1970s. Wind, solar and nuclear have also diversified the energy mix in ways that didn't exist five decades ago, Lubin noted. Should the conflict escalate further, "it's quite possible that the energy impact of this crisis could start to deliver as big a negative shock as the 1970s crisis did," he said. China in the crosshairs The blockade also risks drawing the world's second-largest economy into the confrontation. China remains Iran's largest oil buyer and has continued to receive shipments through the strait since the war began, analysts say. A blanket ban on tankers carrying Iranian crude threatens to cut off that supply, potentially reigniting U.S. tensions with Beijing ahead of Trump's planned trip to China next month. "I doubt Trump is ready for that escalation," said Parsi, adding that "it wouldn't be surprising" if Trump walks back on the earlier threats. watch nowVIDEO4:1804:18China will take center stage in the U.S.-Iran negotiations: Atlantic CouncilInside India The Trump administration on Monday also threatened to impose an additional 50% tariff on China if Beijing supplies advanced defense equipment to Tehran. Countries including India and Pakistan, which have negotiated safe-passage arrangements with Iran, could also find themselves caught in the crossfire, Parsi said. Negotiating tactic or miscalculation? Some analysts see the blockade as coercive leverage rather than a terminal escalation. "Since neither side has explicitly stated that talks won't resume or that the ceasefire is over, all these moves should be treated as tactics and threats within the negotiations," Parsi said. Brian Jacobsen, chief economist at Annex Wealth Management, was cautiously optimistic, suggesting Washington may carve out safe-passage exemptions for allied vessels. But Emons warned that the strategy carries serious downside risk. A move designed to bring Iran "to its knees" could just as easily trigger counterstrikes and a fresh cycle of military escalation, he said.Iran's Islamic Revolutionary Guard Corps signaled as much, warning on Sunday that any military vessels approaching the strait "under any pretext" would be considered a ceasefire violation. It also hardened its rhetoric, saying that enemies would be trapped in a "deadly vortex" in the case of any miscalculation. No legal footing The blockade is also legally contentious, according to several experts, as neither the U.S. nor Iran has the authority to close or impede passage through Hormuz. "Under international law, specifically the rules governing international straits, the U.S. has no legal authority to close, suspend, or impede transit passage through Hormuz," said Emons. Only Iran and Oman are coastal states, and even they are prohibited from suspending transit passage, he added. For shipowners, the practical deterrent from traversing through the strait also includes exposure to Western sanctions on Iran. Payments to Iran risk breaching U.S. and European rules, and firms may face severe penalties, according to Lloyd's List Intelligence. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

"L&T has been associated with India's nuclear programme since its inception and has supported technology development, manufacturing and localisation," Anil V Parab, whole-time director and senior executive vice president, heavy engineering & manufacturing, told ET. "We will continue to support the government's push to scale nuclear capacity from about 8.8 GW currently to 100 GW by 2047." View More

MUMBAI: Engineering and construction conglomerate Larsen & Toubro (L&T) expects substantial growth in nuclear energy business revenue over the next five years, said a senior company executive. This would be bolstered by a global push towards nuclear power generation, triggered partly by rising electricity demand from emerging sectors such as AI and data centres. "L&T has been associated with India's nuclear programme since its inception and has supported technology development, manufacturing and localisation," Anil V Parab , whole-time director and senior executive vice president, heavy engineering & manufacturing, told ET. "We will continue to support the government's push to scale nuclear capacity from about 8.8 GW currently to 100 GW by 2047." "We realistically see a 3 to 3.5 times increase in nuclear-related revenues over the next five years, depending on how quickly projects are executed," said Parab. Also Read: Delhi EV policy 2026: From subsidies and scrapping incentives to tax exemptions, all you need to know He said beyond India, L&T is evaluating global opportunities as nearly 32 countries are planning to significantly expand nuclear capacity, creating strong demand for manufacturing and engineering capabilities. Live Events "We see opportunities internationally, particularly in manufacturing of critical equipment such as reactors, steam generators and pressurisers, which can be built in India and exported," he said. In West Asia, including markets like Abu Dhabi, the company is scouting for construction and project execution roles. Also Read: India records highest-ever annual solar capacity addition of 45 GW in FY 2025-26: Pralhad Joshi Parab however, clarified that L&T doesn't have any plan to own or operate nuclear power plants. Instead, the company would solely focus on engineering, procurement and construction (EPC), manufacturing, project management contracts, and potentially expand into plant services as regulatory conditions evolve. L&T's Hazira facility, established decades ago, has sufficient capacity to support a rapid scale-up in nuclear projects without significant fresh capital expenditure. The company is also in discussions with global technology providers for both large reactors and small modular reactors (SMRs), though these partnerships are still at a preliminary stage and are likely to progress once projects achieve financial closure. Accelerated growth in AI and data centres is partly helping drive the nuclear energy push. Industry leaders globally, including hyperscalers, are increasingly turning to nuclear power for its ability to provide stable, round-the-clock clean energy. For India, scaling up nuclear capacity could play a critical role in supporting energy-intensive sectors while advancing energy security. To be sure, challenges remain in areas such as cost competitiveness, policy support, and faster project execution for determining the pace of nuclear expansion. Companies are calling for reforms such as lower taxation, green energy classification, and financial incentives to make nuclear power more viable. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The transition from diesel to solar is no longer on the horizon — it is already happening at scale View More

Protestors are taking issue with the government's response to the spike in fuel prices since the onset of the Iran war. View More

Trucks and tractors block O'Connell Street in the centre of the city, as protests continue for a third day against the rising cost of fuel due to the Middle East crisis, in central Dublin on April 9, 2026. (Photo by Paul Faith / AFP via Getty Images)Paul Faith | Afp | Getty Images Protests around fuel prices in Ireland are entering their fourth day, with three of the country's main refineries and terminals blockaded, and traffic in Dublin at a standstill.The demonstrations have been primarily instigated by farmers, agricultural contractors and road haulage operators, who are upset with the government's response to the spike in fuel prices since the onset of the Iran war.However, recognized industry bodies, including the Irish Farmers' Association and the Irish Road Haulage Association, are not involved.Countries around the world are grappling with higher fuel prices as a result of the Middle East conflict. British Prime Minister Keir Starmer said Thursday he was "fed up" seeing energy bills in the U.K. fluctuate because of actions taken by U.S. President Donald Trump and Russian President Vladimir Putin. Oil prices were off their highs on Friday as shipping flows around the Strait of Hormuz remained severely restricted. Fuel protesters block the motorway outside Dundalk as protests continue for a third day against the rising cost of fuel due to the Middle East crisis across the country on April 9, 2026. (Photo by Paul Faith / AFP via Getty Images)Paul Faith | Afp | Getty Images The standoff in Ireland has seen petrol pumps in forecourts across the country run dry, with demonstrators claiming they will remain in place until they secure a meeting with the government to air their grievances over what they claim is a lack of support from authorities.The government has asked the country's army to be on standby to remove blockades at terminals and refineries. Taoiseach  — Irish for leader — Micheál Martin has described the protests as an "act of national sabotage," adding that he can't comprehend the logic of blocking access to fuel in the midst of a surge in prices.The Irish government announced in March a 250-million-euro ($293 million) package of measures to help households and businesses tackle the spike in prices, including a cut in excise duty on both diesel and petrol."We will navigate this period of volatility. But, to put it bluntly, nobody knows what the situation will be in a month from now; we must remain flexible in our response," Ireland's Finance Minister Simon Harris, said at the time. A man sits in the wheel of a tractor as fuel protestors block O'Connell Street in the centre of the city, as protests continue for a third day against the rising cost of fuel due to the Middle East crisis, in central Dublin on April 9, 2026. (Photo by Paul Faith / AFP via Getty Images)Paul Faith | Afp | Getty Images Government officials are due to meet with industry bodies on Friday to discuss the crisis, but Defense Minister Helen McEntee has confirmed that those protesting have not been given an invitation.  In a bid to cope with the fallout of the energy shock, governments around the world have been quick to impose measures from fuel export bans to loosening refining standards. The U.K. government last month introduced rules requiring developers to install heat pumps and solar panels in all new homes across England, while Greece has capped profit margins on fuel and supermarket products for three months. Price caps, taking the stairs, and short-sleeved shirts: How countries are coping with the Iran war energy shock Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.