By Admin 
The impact of the increasing war in the Middle East is now directly visible on the global energy market. Especially the situation has become more serious due to the closure of the Strait of Hormuz. This sea route is very important for the world, because about 20 percent of global crude oil and LNG trade takes place from here. Due to its stoppage, the supply of oil in the international market has been affected.
The current situation due to the closure of the Strait of Hormuz can be gauged from the fact that in just six days the prices of crude oil have increased by about 12 percent. On 26 February 2026, the price of 1 barrel of oil was 71.06. On March 2, the price increased to $ 77.75 per barrel. On March 3, the price of crude oil reached $79.60 per barrel. The effect of this rise in oil prices is also visible on the Indian rupee, due to which the import cost is increasing.
direct impact on india
India imports about 50 percent of its oil requirement from the Strait of Hormuz. In such a situation, closure of this route can have a big impact on the energy security of the country. According to experts, every $1 increase in the price of crude oil can increase India’s annual import bill by $1.8 to $2 billion. If prices remain high for a long time, inflation may increase and prices of petrol and diesel may also go up.
increasing military conflict
According to the report, in the first four days of the war, more than 1,000 targets were attacked and 555 people died. This has increased uncertainty in the region and nervousness is clearly visible in the energy market.
India’s preparations and options
India currently has about 74 days of crude oil reserves. This statement was given by Oil Minister Hardeep Singh Puri. Although normally there should be 90 days of oil storage, India has 74 days of stock. In this situation, if the war continues for a long time, its impact on India will be less. Apart from this, when the situation worsens, India can also consider the possibility of increasing imports from alternative sources like Russia, so that the supply is maintained. If the situation does not become normal soon, its impact will not be limited to the Middle East only, but will affect the economy of the entire world.