The ongoing war between Iran and Israel has intensified, especially after U.S. airstrikes on Iran’s nuclear sites. On June 22, Iran’s parliament approved the closure of the crucial Strait of Hormuz, triggering a sharp spike in crude oil prices. Brent crude surged 2.7% to $79.12 per barrel, marking a five-month high amid rising Middle East tensions.

India is now grappling with strained ties in West Asia, particularly with Iraq, Jordan, and Syria, as exports to Iran and Israel plummet. With the Strait of Hormuz closed, oil prices could soon cross $80, sparking fears of domestic fuel inflation.

While the government claims current reserves are adequate, experts caution that a prolonged conflict could severely impact India's energy security and economy.