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Trump said the temporary ceasefire is "subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz." View More

National Economic Council Director Kevin Hassett speaks to the press outside the White House, in Washington, Feb. 11, 2026.Anna Moneymaker | Getty Images President Donald Trump's top economic advisor Kevin Hassett said Thursday that getting even one oil tanker through the Strait of Hormuz would provide a "huge chunk of what's missing" amid a global supply crunch caused by the U.S.-Israel war in Iran.Hassett, director of White House's National Economic Council, made the claim as traffic through the key shipping route remains tightly throttled, despite the U.S. and Iran reaching a fragile ceasefire that ostensibly involves reopening the strait.More than 100 commercial vessels, mostly oil tankers, were passing through the strait each day before the war started on Feb. 28, according to data from Kpler.Matt Smith, Kpler's lead oil analyst, said just two tankers — one of which was Iranian — and a handful of bulk carriers have transited the waterway since the two-week ceasefire was announced Tuesday evening.That's within the meager range of traffic that has been seen throughout the war, providing Iran with a key source of leverage even as it's weathered punishing military strikes from the U.S. and Israel. The blockage of the strait, which normally ferries 20% of the world's oil, sent global energy prices soaring. Oil prices fell sharply following news of the ceasefire, but jumped back above $100 per barrel on Thursday."We have an agreement [with] the Iranians that they're going to open the Strait of Hormuz, and that we'll have a ceasefire," Hassett said in a Fox Business interview Thursday morning."They have said that they're going to start letting many more ships through," Hassett said of Iran. "We'll watch as the day progresses, whether that's true or not, being mindful of the fact that if you get one of those big tankers through, that's 2 million barrels. So that's a huge chunk of what's missing," he said.Before the war, about 20 million barrels of oil were transiting the strait per day. And since the war began Feb. 28, hundreds of millions of barrels have been taken off the market due to an inability to be shipped out of the Persian Gulf, said Amena Bakr, an expert on the Middle East and OPEC at Kpler. watch nowVIDEO9:2709:27Watch CNBC's full interview with NEC director Kevin HassettMoney Movers Hassett said, "In the end, I think we're not going to have complete clarity until we finish the negotiations" set to begin this weekend in Islamabad, Pakistan."We fully expect that we've got so much on the table that we're willing to give to help the Iranian people, if they just act normally, that hopefully there will be cooler heads and sounder minds at the Iranian side, and that will come to a final agreement this weekend," he said.Hassett's comments came one day after Defense Secretary Pete Hegseth said "what has been agreed to, what's been stated is, the strait is open." Read more CNBC politics coverageTrump praises Hungary PM Viktor Orbán after Vance calls him at Budapest rallyBill Gates interview about Jeffrey Epstein by House Oversight set for June 10House Democrats call on federal regulator to crack down on offshore prediction market war bets White House press secretary Karoline Leavitt said later Wednesday that the U.S. has "seen an uptick of traffic in the strait today.""I will reiterate the president's expectation and demand that the Strait of Hormuz is reopened immediately, quickly and safely" amid the ceasefire, Leavitt said. She denied reporting from Iranian state news that oil tanker traffic had been halted following Israeli attacks on Lebanon.Trump announced the two-week ceasefire Tuesday evening, shortly before his deadline for Iran to either make a deal or face the devastation of its "whole civilization." The temporary ceasefire is "subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz," Trump wrote in a Truth Social post.But experts and maritime industry leaders say the strait traffic has not picked up since the ceasefire took effect."Let's be clear: the Strait of Hormuz is not open. Access is being restricted, conditioned and controlled," Sultan Ahmed Al Jaber, CEO of Abu Dhabi National Oil Company, said Thursday.Ships passing through the strait must obtain permission from Iran, which is reportedly planning to impose new tolls on the transiting vessels, Al Jaber said."That is not freedom of navigation. That is coercion," he said.Iran on Wednesday accused the U.S. of breaching the ceasefire by violating parts of Tehran's 10-point proposal for a temporary pause in hostilities. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

India has capped refinery margins to manage losses on domestic fuel sales. This follows a windfall tax on fuel exports. The move aims to balance record losses on petrol and diesel due to high international oil prices. Refineries will now effectively transfer excess earnings to state-run marketing companies. This adjustment impacts the pricing of diesel, aviation turbine fuel, and kerosene. View More

New Delhi: After imposing a windfall tax on fuel exports, India has moved to cap refinery margins in a bid to offset losses on domestic fuel sales, sources said. The war in West Asia has had two prolonged impacts - spike in international oil prices that has led to record losses on petrol and diesel sales as retail rates have not changed in tandem. Secondly, it has given bumper margins to refineries, who irrespective of retail price freeze, price their products at imported cost. The government last month imposed a Special Additional Excise Duty (SAED) on exports of diesel and aviation turbine fuel (ATF), as part of efforts to curb windfall gains by refiners and boost domestic fuel availability amid tight global markets. Alongside, refining margins have been capped at USD 15 per barrel, with any earnings above that threshold treated as a discount on fuel sold to state-run marketing companies, effectively transferring excess gains to offset retail losses, sources said. Also Read: Iran war doubles Russia's main oil revenue to $9 billion in April Live Events The oil marketing companies (OMCs) on March 26 fixed rates for petroleum products that are at a discount of up to Rs 60 per litre to their imported cost. OMCs have decided to fix a discount on the refinery transfer price (RTP) - the internal price at which refineries sell fuel to marketing arms - to effectively pay refineries less than the import-parity cost of the fuels like petrol and diesel. For the second half of March, a discount of Rs 22,342 per kilolitre (Rs 22.34 per litre) was fixed on diesel to bring down the RTP of Rs 85,349 per kl to Rs 63,007 per kl. For the first fortnight of April, the discount on diesel has been fixed at Rs 60,239 per kl to lower RTP from Rs 146,243 per kl to Rs 86,004 per kl. On ATF, the RTP has been slashed to Rs 76,923 per kl from Rs 127,486 per kl after considering a discount of Rs 50,564 per kl. The RTP for kerosene after a discount of Rs 46,311 per kl has been fixed at Rs 77,534 per kl from Rs 123,845 per kl, they said. Traditionally, petrol and diesel in India have been priced on an import parity basis, meaning the fuels are valued as if they were imported, even though it is primarily crude oil that is brought into the country and refined locally. Refinery transfers of these products to oil marketing companies were based on import parity price (IPP) until June 2006, after which the government adopted trade parity pricing (TPP) - a benchmark that assigns 80 per cent weight to import parity price and 20 per cent to export parity price. This pricing protected refinery margins, particularly of standalone refiners who didn't have the cushion of marketing margins on petrol and diesel, whose pricing was deregulated by the government in 2010 and 2014, respectively. Despite being freed, petrol and diesel prices have not exactly moved in line with cost and have been on a freeze since April 2022, with OMCs absorbing losses when crude oil prices rise and making bumper profits when rates fell. Also Read: India set to get first Iranian oil cargo in 7 years The discount on RTP comes as under-recoveries or losses on petrol and diesel have widened, sources said adding unlike cooking gas LPG, the government does not compensate OMCs for losses on auto fuels. Ministry of Petroleum and Natural Gas in a post on X on April 1 had stated that, "With global petroleum prices up by up to 100 per cent in the last one month, PSU OMCs are incurring under-recoveries of Rs 24.40 per litre on petrol and Rs 104.99 per litre on diesel at retail selling price (RSP) level as on 01.04.2026." OMCs feel the freezing RTP would effectively distribute the financial burden across the refining ecosystem, but analysts say it could disproportionately affect independent refiners with limited downstream marketing exposure. Also, it will distort the commitment of market price to standalone and private refiners, sources added. .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)

IT stocks remained under pressure ahead of TCS’s Q4 results, while banking and financial stocks saw broad-based selling. Realty and auto sectors also saw early weakness, according to Ponmudi R, CEO of Enrich Money View More

The BSE Sensex, which closed at ?77,562.90 on Wednesday, opened at ?77,319.33 and was trading at ?77,312.50, down ?250.40 or 0.32%, as of 9.21 am View More

Power, infra and pharma stocks are buzzing after key developments including CEA’s capacity upgrade, major project approvals in Arunachal Pradesh, and global expansion moves by RedTape and Bosch, signalling strong corporate activity across sectors. View More

NTPC Ltd has forged a promising partnership with Electricite de France (EDF) to investigate innovative nuclear power ventures in India. This collaboration focuses on assessing the suitability of EDF's EPR technology, following recent government endorsements. View More

New Delhi: NTPC Ltd has signed a non-binding memorandum of understanding (MoU) with Electricite de France ( EDF ) to explore cooperation in developing new nuclear power projects in India. The move follows approval from the concerned ministries and departments, NTPC said in a statement. Also Read: NTPC records highest ever capacity addition of 9.6GW in FY26 The MoU sets a framework to jointly assess EDF's EPR technology for India, including localisation, project viability, tariff considerations, site evaluation, skill development through training, and provision of technical support, paving the way for potential large-scale nuclear deployment. In January, ET had reported that the power generator had signed non-disclosure agreements with Russia's Rosatom and France's EDF to explore collaboration on deploying large, pressurized water reactor (PWR) projects in the country. Live Events The agreements come around a time when India decided to change its laws to facilitate the entry of the private sector into the nuclear industry, and ease provisions on suppliers' liability that have kept foreign technology providers from participating in the sector. Companies including ROSATOM, Korea Electric Power Company of South Korea, Westinghouse of US and EDF have shown interest in participating in India's nuclear energy sector . Also Read: BHEL gets Rs 13,500 crore order from NTPC for Telangana thermal power project The state-owned power producer has experience in setting up large power plants and working in a joint venture with Nuclear Power Corporation of India (NPCI). It has announced a target capacity of 30 GW by 2047- a major chunk of India's 100 GW roadmap for Viksit Bharat through its subsidiary NTPC Parmanu Urja Nigam. NTPC is the only PSU, apart from NPCI, which is currently building a nuclear power plant. .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 project, which entails an investment of around ?42,000 crore, will be one of the largest nuclear plants in the country upon completion, supplying reliable base load energy View More

Fuel demand saw a surge in March. Diesel sales climbed 8% as consumers stocked up fearing shortages. Petrol demand also rose above trend. However, LPG sales dropped 13% due to supply restrictions. Aviation fuel consumption remained flat. For the full year, diesel and petrol sales grew, while LPG and ATF saw modest increases. View More

New Delhi: Domestic diesel sales rose 8% year-on-year in March, fuelled by panic buying with the Iran war sparking a global energy crisis. LPG sales however fell 13% due to supply curbs. Petrol demand also rose above trend, up 7.6%, as motorists queued at filling stations in several parts of the country fearing shortages. The government and oil companies, however, repeatedly maintained that refiners are operating at optimal capacity and that adequate stocks of crude, petrol, diesel and LPG are available in the country. Also Read: India doubles 5-kg LPG cylinder quota to ease supply concerns amid Hormuz tensions Live Events Aviation turbine fuel (ATF) consumption remained flat in March as several flights were cancelled following the outbreak of the war. For the full year ended March, diesel sales grew 3.6%, petrol 6.5%, ATF 2%, and LPG 6%. The spike in diesel sales may have been partly driven by bulk consumers rushing to stock up ahead of a steep hike in prices for industrial buyers, an industry executive said. .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 new lineup introduces distinct series with premium design & smart controls, setting fresh benchmarks in comfort, durability, and intelligent living. View More

Bosch Home Comfort India Ltd announced the launch of its Hitachi air conditioner lineup for 2026 in India, unveiling over 80 models engineered to set new benchmarks in energy efficiency, performance, and smart living. This expanded portfolio offers customers dependable cooling even in 54°C heat, underscoring the brand’s commitment to energy efficiency, innovation, and superior comfort. Designed with a deep understanding of the Indian consumer, these air conditioners significantly reduce electricity consumption while delivering powerful cooling - even in extreme summer conditions. The 2026 Hitachi lineup combines renowned Japanese quality and durability with breakthrough technologies and intelligent controls, positioning the brand as a pioneer in future-ready cooling solutions for India’s dynamic climate. Bosch Home Comfort India Ltd has strengthened its room air conditioner range with the SUMO series - heavy-duty air conditioners built to deliver uncompromising cooling even in India’s toughest summers. With advanced efficiency, reduced refrigerant use, and a powerful cooling capacity of up to 7400 W, SUMO reflects Bosch Home Comfort India Ltd’s commitment to premiumization and to meeting the needs of today’s aspirational, well-informed consumers. Among the highlights of the 2026 lineup is the all-new Signature Series, featuring 5-Star and 3-Star Inverter ACs crafted with premium aesthetics and advanced smart cooling technology . Available in Magnum Grey, Brushed Silver, and Marble White, the Signature Series blends luxury design with powerful, energy-efficient performance. Live Events To ensure optimum cooling, reliable protection, and safe operation through intelligent monitoring, Hitachi ACs now come equipped with Octa Sensor Technology. Featuring eight sensors mounted across the indoor and outdoor units, this advanced system works in harmony to deliver precise control and dependable performance. Beyond consistent safeguards against surges and fluctuations, Octa Sensor Technology keeps your AC running safely and efficiently at all times. Sanjay Sudhakaran, Managing Director, Bosch Home Comfort India Ltd, said in a statement “As Indian consumers face rising temperatures and evolving climate challenges, demand for high-performance, energy-efficient air conditioners has grown significantly. Our 2026 range of Hitachi ACs with New BEE Star Ratings integrates Japanese quality - built to last - with cutting-edge R&D and rigorous field testing in India, delivering intelligent cooling for modern homes. Designed as premium, high-quality products with high-end features, these air conditioners elevate everyday comfort into a refined lifestyle experience. Bosch Home Comfort India Ltd remains committed to advancing HVAC standards and driving value across India’s residential landscape.” The 2026 air conditioners harness features tailored specifically for Indian homes. Bringing precision to everyday cooling, the intuitive Smart View Display offers precise 0.5°C decimal temperature control, adjustable brightness for day or night visibility, and instant error code display for easy, first-time right diagnosis. Hitachi ACs are designed with intelligent features that make cooling effortless and reliable. The Hybrid Convertible technology smartly balances comfort and efficiency by switching between auto and manual cooling modes. It saves energy, adapts to changing room conditions, and extends compressor life for lasting performance. You enjoy uninterrupted comfort even when the weather outside is extreme -cooling stays precise, efficient, and reliable. That’s because EEV Precision Cool Technology actively monitors your room’s cooling demands and finely adjusts refrigerant flow to deliver higher performance under high outdoor conditions. With AirCloud Go, you can control your AC hands‑free using simple voice commands through Amazon Alexa or Google Assistant, making it easy for everyone in the household to adjust settings while cooking, cleaning, or relaxing. It also helps you manage energy costs by setting a monthly usage limit, while the unique Energy Tracker enables informed decisions to enhance efficiency and reduce electricity bills. The Dual Louver Design ensures powerful airflow across the room while minimizing noise, so you enjoy strong cooling in peace. For durability, the NanoTech Ultra coating protects copper pipes inside the unit against corrosion, extending performance and reducing maintenance costs. .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!

Emmvee is currently setting up a 6 GW integrated cell and module manufacturing unit, which will take its total capacity to 16.3 GW and 8.9 GW module and cell, respectively, making it the fourth largest player in India View More