Indian state-controlled oil marketing companies have raised commercial LPG cylinder prices for August after cutting prices for four consecutive months since April. A 19kg commercial LPG cylinder in Delhi now costs 1,652.5 rupees ($20), up by Rs6.5 from a month earlier, and in Mumbai costs Rs1,605, up by Rs7 from a month earlier. Prices in Kolkata rose by Rs8.5 to Rs1,764.5, while prices in Chennai rose by Rs7.5 to Rs1,817, state-controlled refiner IOC's website shows. Prices for 14kg residential cylinders remained at Rs803 in Delhi, Rs802.50 in Mumbai, Rs829 in Kolkata and Rs818.50 in Chennai.
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Iran eyes regional solution for Hormuz crisis
Iran eyes regional solution for Hormuz crisis
Dubai, 9 April (Argus) — Iran is proposing a regional solution to the strait of Hormuz crisis that would involve at least some of the countries bordering the Mideast Gulf, according to a bill currently under discussion in parliament. Part of that would involve charging a fee for vessels passing through the key waterway, with revenues from this available to all participating countries as 'war reparations'. " Dubbed the 'law of strategic action for peace and development of the Persian Gulf,' the Iranian bill would govern Tehran's oversight and management of traffic through Hormuz, which has been severely disrupted since the start of the US-Israeli war against Iran on 28 February. Tehran's subsequent threats to any and all vessels it deemed to be 'unfriendly' led to traffic through the strait dropping to around seven a day in March, compared with typical daily movement of more than 100 before the war according to Kpler data. Diplomatic engagement with several of what Tehran dubs 'friendly' countries has seen a slight pick-up in traffic through the strait, with more than 11 vessels crossing on average in the first eight days of April. Malaysia, Thailand, the Philippines and Iraq have all secured deals for passage with Tehran, and Islamabad last week said it had secured the safe passage of 20 Pakistani-flagged ships. This pick-up came as Iran began introducing something of a toll system, whereby vessels would pay Tehran a fee to transit the waterway safely — a process first revealed by Iranian parliament member Alaeddin Boroujerdi in mid-March . Speaking to Argus , Hamid Hosseini, spokesman for Iran's oil, gas and petrochemical products exporters' union, confirmed the toll mechanism remains in place. "Every very large crude carrier (VLCC) transiting the strait has been paying $2mn, in line with what has been under discussion in parliament," Hosseini said. The fee being charged is directly linked to the volume of oil on board, Hosseini said. "Ship owners are being asked to pay $1 per barrel, and that can be done in the local currency, rials, or cryptocurrency, but only after the vessel has received a permit from the IRGC," he said. Tidings for all This mechanism appears to form the basis of how Iran sees the future of the strait of Hormuz, and its role as the guardian and guarantor of the key waterway. "The Iranian government, in co-operation with the Iranian armed forces, is obliged to provide services, like navigation guidance and vessel inspection, as well as compliance and financial assessments," the bill says, specifying that vessels related to "warring countries" will, for the most part, be barred. "The armed forces will determine which vessels are considered belligerent, and which are not," the bill says, stating that final say will come from the Supreme National Security Council (SNSC), one of Iran's most powerful decision-making bodies. Chaired by the president, the SNSC is responsible for national security, defense and major foreign policy strategy, and has been deeply involved in formulating Iran's war effort. The bill reiterates vessels will need to pay a fee to transit Hormuz, either in rials or cryptocurrency, it says proceeds will not go to Iranian state coffers, but to what it calls a 'Persian Gulf Reconstruction and Development Fund' that regional countries can apply to join. "The resources in this fund will be considered war reparations for Iran and other member countries, and be used for the reconstruction and development needs of the member countries," the bill says. Gulf countries are yet to show appetite for this plan. Oman's transport, communications and information technology minister Said Al-Maawali on 8 April said the country is party to all international maritime conventions, which do not allow for the imposition of charges on passage. The Iranian bill has secured approval from parliament's national security council, but has not yet been brought to the parliament floor for a vote, Hosseini said. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
EIA raises US NGL production, demand forecasts
EIA raises US NGL production, demand forecasts
Houston, 8 April (Argus) — The US Energy Information Administration (EIA) raised its 10-year outlook for average production of natural gas plant liquids (NGLs) by 14.4pc. In its Annual Energy Outlook (AEO), the EIA estimated production of NGLs would average 8.85mn b/d from 2026 to 2035, up from the estimate of 7.74mn b/d for that period in its report last year . By 2050, production will reach 11.3mn b/d, EIA said, a 32.3pc hike from the agency's previous 2050 forecast. Consumption of hydrocarbon gas liquids (HGLs), which the EIA defines as ethane, propane, normal butane, isobutane, natural gasoline, and refinery olefins, is projected to average 3.82mn b/d over the next 10 years, up from the 3.69mn b/d forecast in the 2025 AEO. The agency continues to expect much of this demand to come from the industrial sector, including petrochemical manufacturing. EIA forecast 3,710 trillion Btu/y of industrial-sector HGL consumption between 2026-2035, up from its 3,630 trillion Btu/y forecast for the period last year. EIA also raised its estimate for domestic propane use in the residential, commercial, and transportation sectors across the period to 727 trillion Btu/y, up from 697 trillion Btu/y as estimated in 2025. The increase was almost entirely attributable to the residential sector, which the agency predicts will consume 485 trillion Btu/y, up from its previous 456 trillion Btu/y forecast for the period. By Joseph Barbour Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Shipowners await clarity on Hormuz after ceasefire
Shipowners await clarity on Hormuz after ceasefire
London, 8 April (Argus) — Vessel traffic through the strait of Hormuz has yet to rise since the US and Iran announced a two-week ceasefire , as shipowners wait for clarity on security arrangements and insurance cover for transits. US president Donald Trump said the ceasefire depends on free transit through Hormuz, a chokepoint for global oil flows. But AIS data do not yet show a surge in transits. Trump agreed to the two-week ceasefire with Iran on 7 April, subject to what he described as the "complete, immediate and safe opening" of the strait of Hormuz. Iran's supreme national security council confirmed the ceasefire but said the proposal under discussion would enshrine "continued Iranian control over the strait", according to Iran's Tasnim news agency, which is linked to the Islamic Revolutionary Guard Corps (IRGC). A small number of vessel movements via the strait have emerged since the announcement, including the Greek-owned bulk carrier NJ Earth and the Liberia-flagged Daytona Beach , according to vessel tracking firm MarineTraffic. But overall traffic has remained limited. The ceasefire could allow commercial shipping flows to recover after weeks of minimal traffic caused by security risks and insurance restrictions during fighting between the US, Israel and Iran. The fact that transits have not accelerated yet reflects uncertainty over technical, security and insurance details. "The shipping industry is currently awaiting technical details from the US and from Iran on how to transit the strait of Hormuz safely," said Jakob Larsen, chief safety and security officer at shipping association Bimco. He noted that Iran continues to seek control over the waterway. The International Maritime Organisation (IMO) welcomes the ceasefire and is "working with the relevant parties to implement an appropriate mechanism to ensure the safe transit of ships through the strait of Hormuz", secretary-general Arsenio Dominguez said. Maritime security firm Ambrey said Iran has maintained control over the strait, despite US demands for unrestricted passage. It expects the risk to shipping in the Mideast Gulf to ease while the ceasefire is in place, but warned there remains "a realistic possibility of continued risk to unauthorised strait of Hormuz transits, as well as to Israel- and US-affiliated shipping attempting to transit". Market participants said crude cargo numbers in the Mideast Gulf appear to be rising, but added that activity remains tentative until insurers spell out cover terms and protocols. By Leonard Fisher-Matthews Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Trump threatens death of Iranian civilization: Update
Trump threatens death of Iranian civilization: Update
Adds details on the latest diplomatic moves to end the war Washington, 7 April (Argus) — US president Donald Trump warned Iranian civilization "will die" tonight if Tehran does not accede to his demands and assure safe passage through the strait of Hormuz. Trump has threatened to destroy "every" bridge and power plant in Iran starting at 8pm ET on Tuesday and says such a mission could be accomplished in four hours. "A whole civilization will die tonight, never to be brought back again," Trump warned in a post on his social media platform on Tuesday. "I don't want that to happen, but it probably will." Trump said the US-Israel military strikes on Iran have already brought about regime change in Tehran that has created an environment "where different, smarter, and less radicalized minds prevail." "Maybe something revolutionarily wonderful can happen, WHO KNOWS? We will find out tonight, one of the most important moments in the long and complex history of the World. 47 years of extortion, corruption, and death, will finally end. God Bless the Great People of Iran!" Trump wrote. Trump has repeatedly pushed back the timing of his threat to destroy Iran's infrastructure, most recently at the weekend when he said the attack would take place on Tuesday rather than on Monday. Trump said he did not want to attack the day after Easter. Iran has threatened to respond to any attacks on its power infrastructure with a corresponding attack on neighboring countries that are hosting US military infrastructure. Trump has dismissed suggestions attacks on Iran's bridges and power plants could be deemed war crimes. Diplomacy continues Pakistan-led diplomatic efforts aimed at ending the US-Israel war with Iran have reached a critical stage, Iran's ambassador to Pakistan Reza Amiri Moghaddam said Tuesday. Pakistan has been leading mediation efforts between Washington and Tehran over the past two weeks, working alongside countries like Egypt, Turkey and Saudi Arabia. Moghaddam described Islamabad's interventions as "positive and productive". The comments provide some hope for de-escalation, although Tehran and Washington have publicly dismissed terms of a ceasefire proposed by Pakistan . Before his threat to end Iranian civilisation, Trump called the proposals "significant" but "not good enough". Iran has said a ceasefire would only provide a "pause" for the US and Israel to refresh their military forces and equipment in preparation for a new attack. "No intelligent person would accept such a thing," Iran's foreign ministry spokesman Esmail Baqaei said. "Our demand is for an end to the imposed war, along with assurances that this vicious cycle will not be repeated." By David Ivanovich and Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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