Indian government officials are assessing a potential Iran-linked war-driven oil shock as comparably disruptive to the Covid-19 pandemic's impact on energy supply chains, according to internal evaluations. The concern centers not on the immediate price spike alone but on the extended timeline for normalization: even a short conflict could leave energy supply chains distorted for years, mirroring the multi-year recovery pattern seen after Covid-19 disrupted global flows. India, which depends heavily on imported crude to meet domestic energy demand, is particularly exposed to any sustained disruption in Middle East supply corridors. The mechanism is structural: prolonged uncertainty freezes long-term supply contracts, reroutes tanker traffic, and forces refiners to scramble for alternative crude grades at premium prices. Officials appear to be stress-testing scenarios where hostilities end quickly but logistical and contractual dislocations persist well beyond the ceasefire. For energy markets and India's import bill, the watch point is whether supply normalization tracks closer to months or years.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
