The sea area from the Oman coast to the Strait of Hormuz has turned red with blood these days. In the last three days, three different ships carrying Indian sailors have been attacked one after the other. First the American army targeted one tanker, then attacked another and now the third ship also caught fire. So far three Indian sailors have died in these attacks. The Indian government took strict action and expressed its displeasure by summoning the American diplomat. Why is this happening, is it the effect of America-Iran war and how big is this problem for India?

First attack (8 June): accurate hit on MT Marivex

The first attack took place on 8 June. Palau Islands-flagged tanker MT Marivex was attacked by US forces. There were 24 Indian sailors on board this ship. The US Central Command (CENTCOM) said that they carried out this attack because the ship was going towards Iran in violation of the US blockade. No Indian sailor died in this attack. All 24 sailors were rescued safely with the help of Omani authorities.

According to the Central Command, an F/A-18 Super Hornet fighter aircraft fired a precision missile at the engine and steering part of the ship. The ship will no longer be able to go to Iran.

Second attack (9–10 June): Deadly attack on MT Setebelo

The most dangerous and painful attack took place on the intervening night of 9-10 June. The Palau-flagged tanker MT Setebello was again attacked by the US military. This time the situation was more serious. There were a total of 24 Indian sailors on the ship. The US Central Command once again said that the ship did not follow American orders and was carrying oil from Iran.

American fighter plane fired an accurate missile into the engine room of the ship. There was a stampede after this attack. The ship caught fire and started sinking. 21 Indian sailors were rescued by Omani authorities, but three sailors went missing. Indian Shipping Minister Sarbananda Sonowal later confirmed that all three were killed and that their bodies had been recovered.

Central Command posted on This attack is being described as the first case of death of sailors under the American blockade.

Third attack (11 June): MT Jalveer fire

On June 11, Guinea-Bissau-flagged tanker MT Jalveer ran aground near Shinas port in Oman. There were about 20 Indian sailors on this ship. It is not officially clear whether it was an attack or some other incident, but a fire broke out in the engine room of the ship. The Indian Embassy has confirmed this and contacted Omani authorities. After this incident, the sea route has become even more dangerous for Indian sailors.

Why are these attacks happening on Indian ships?

The real reason for these attacks lies in the ongoing war between America and Iran. Come, let us understand the complete mathematics:

• 28 February 2026: America and Israel started the war by attacking Iran.
• Iran’s action: ERan immediately closed the Strait of Hormuz. This route is the main source of supply of 20% of the world’s oil and gas.
• American Blockade: From April 13, America imposed a blockade on every ship going to Iranian ports. America says that no ship can carry oil from Iran.
• Action so far: The US has destroyed 8 ships, diverted 134 ships and allowed only 42 humanitarian aid ships to go.

When a ship tries to break the American blockade, the American military attacks it. This is the reason why these ships with Indian sailors also came under target.

What does India want?

The Indian government is adopting a very strict stance in this entire matter, but very thoughtfully. Because on one hand there are good relations with America, on the other hand the lives of Indian sailors are also at risk.

The very next day (June 10) of the attack, India called US Ambassador Jason Meeks to the Ministry of External Affairs and lodged a strong protest. Nagaraj Naidu, Additional Secretary (America) of the Ministry of External Affairs, talked for about 30 minutes and made it clear that threatening the lives of Indian sailors will not be tolerated.

India also raised this issue in the UN Security Council. India’s permanent representative Harish Parvatneni said, ‘We are strongly against attacks on merchant ships. Many of our citizens work in this area and their lives are in danger.

India’s three main demands:

1. Targeting of merchant ships and civilian infrastructure should be stopped immediately.
2. Movement on international waterways should be restored free and without hindrance.
3. A diplomatic solution to this entire crisis should be found and tension should be reduced.

The Indian government has also said that the attacks on merchant ships are a result of the ongoing conflict in the region.

Why have difficulties increased for India?

This situation has become difficult for India on three fronts:

First difficulty: lives of Indian sailors

Indian sailors have the largest number in the world. According to data from the Indian Shipping Ministry, the proportion of Indians among sailors working on global merchant ships is about 15-20 percent. Thousands of Indian sailors work every day on the sea routes from the Gulf countries to the Strait of Hormuz. This is the reason why when the US Army attacked three ships with Indian crew between June 8 and June 11, this matter emerged as a direct challenge for India.

This is not limited to just these three ships. A total of 10 Indian citizens have been killed since the war between America and Iran started. Manoj Yadav, general secretary of Forward Seamen’s Union of India (FSUI), says that if the ships did not follow US instructions, detaining them was a viable option, not precision missile attack on them. The question is whether the American Army was not aware of the nationality of the boats? And even if it was, why a direct missile attack?

Second problem: Crisis on India’s oil supply

The Strait of Hormuz is not a common sea route. This is the route for about 20 percent of the total oil and gas transport in the world, that is, about 20 million barrels of oil passes through this route every day. Now this route has been closed due to the war between America and Iran. Iran has closed Hormuz, while America has imposed a blockade on every ship going to Iranian ports. So far, the US military has destroyed 8 ships, forced 134 ships to change course and allowed only 42 humanitarian aid ships to pass.

India imports about 88-90 percent of its total energy needs. That means nine out of every ten units of energy comes from abroad:

• Crude Oil: About 40-50 percent of India’s total crude oil needs come through Hormuz. This means that out of every two barrels, the path of one barrel passes through this dangerous strait.
• LPG: This is even more worrying. 60 percent of India’s total LPG needs are imported. 90 percent of this import comes through Hormuz. This means that every cylinder that reaches your kitchen passes through this sea route. According to government data, there are more than 33 crore active domestic LPG connections in India and more than 10 crore Pradhan Mantri Ujjwala Yojana connections. If this supply stops, everything from kitchen to politics will be affected.
• LNG: About 50 percent of India’s gas requirement is dependent on imports and 55-60 percent of that import comes through Hormuz.
• Decline in oil imports: Before the war (February 2026), India’s oil imports were 5.2 million barrels per day. In March 2026, it fell to 4.5 million barrels per day i.e. a decline of 13.5 percent. In April it fell further to 4.4 million.

The Indian government claims that the country has about 76 days of crude oil stock and 25-30 days of LPG stock. But this stock is only for emergencies. If the Hormuz crisis lasts for months, then the shortage of LPG will start after 25-30 days. The government has already increased the price of domestic cooking gas by Rs 60 per cylinder and this is just the beginning.

Third difficulty: Diplomatic crisis with America

This is a most delicate matter. On one hand, America is a major strategic partner of India and on the other hand, Indian sailors are dying in attacks by the American army. India has to walk on two tightropes simultaneously, that is, it has to protest and also save relationships.

On June 10, 2026, the Government of India summoned Jason Meeks, Deputy Chief of Mission of the US Embassy, ​​to the Ministry of External Affairs. Nagaraj Naidu, Additional Secretary (America) of the Ministry of External Affairs, talked to him for about half an hour and lodged a ‘strong protest’. India made it clear that actions that endanger the lives of Indian sailors will not be tolerated.

The US Embassy tried to calm the issue by saying that they are in touch with India and are helping in finding the missing sailors. But the real question is will America stop these attacks? No such indication has been found yet. US CENTCOM says they are enforcing the Iranian blockade and will take action against ships that do not follow instructions.

After the American attacks, India may have to rethink its foreign policy. If a friendly country can target your citizens, how much can that friendship be trusted? This question is now being raised in Indian strategic circles.

Experts say that the situation is very critical. America and Iran have started attacking each other again. On June 10 also there were attacks between the two countries. Meanwhile, Iran has threatened to completely close the Strait of Hormuz, while America says that it has control. The Indian government is now making a new strategy. Talks are going on at the diplomatic level.

Crude Oil Crisis: The impact of the ongoing tension in West Asia is now visible on the economies around the world. The biggest concern is about the rising prices of crude oil. The situation has become such that Brent crude has crossed the level of $ 100 per barrel. Experts believe that if this situation continues for a long time, petrol and diesel may become expensive in India and the pressure on the household budget of common people may increase.

Why are oil prices increasing?

Manoranjan Sharma, Chief Economist of Infomerics Ratings, told in a conversation with ANI that the increasing conflict in West Asia and the obstacles created in the Strait of Hormuz have affected the global oil supply. This sea route is one of the most important oil trade routes in the world. India is also largely dependent on this route for its oil needs. According to Sharma, about 60 percent of India’s total imported crude oil comes through the Strait of Hormuz.

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Crude oil reached 100 dollars

According to experts, when tension started in West Asia, the price of crude oil was around $67-68 per barrel. But after the situation worsened, it has increased rapidly. At present, Brent crude has reached $ 100 per barrel, while the prices in the spot market are said to be between 120 to 130 dollars per barrel. This increase has become a matter of concern for the global energy market.

What will be the impact on the common man?

The increase in crude oil prices has a direct impact on the prices of petrol and diesel. Due to cost of fuel, transportation cost increases, the effect of which is also visible on the prices of food items, vegetables, fruits and other essential goods. Manoranjan Sharma says that rising fuel prices will affect the household budget and create additional financial burden for families.

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Challenge before the government

Although the government is constantly trying to provide relief to the common people, it also has limitations in the face of the global energy crisis. Experts say that the government or oil companies cannot bear the increased costs for a long time. This is the reason why there has been a gradual increase in fuel prices in the last few weeks.

What is the solution?

Manoranjan Sharma believes that India will have to pay more attention to renewable energy and alternative energy sources to avoid such shocks in future. He said that the country is already moving in this direction and the share of renewable energy in India’s total energy production has reached about one-third. However, it will take time to reduce dependence on imported fossil fuels.

Igor Sechin, CEO of Russian oil company Rosneft, has made a big prediction about India. He has said that about 50 percent of the new oil demand that will increase in the world in the coming decade will come from India alone. This means that India can gradually become the biggest driving force of the global energy market.

Why will India become the largest oil consumer?

According to Igor Sechin, India’s rapidly growing economy, increasing population, urbanization and increase in vehicle use are the main reasons for this. He said that by 2035, India’s oil consumption can increase by about 44% to about 8 million barrels per day. He says that the demand for energy is increasing fastest in developing countries, but India is at the forefront among them. Therefore, India’s role in the global oil market will become even more important in the coming years.

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Big change in the global energy market

Rosneft CEO also indicated that the world’s energy structure is changing. Demand for oil may be stable or slow in developed countries, but demand will increase rapidly in developing countries like India. For this reason, a large part of the global oil demand growth will be linked to India. He also said that India is not just an oil consumer but is becoming the center of global energy strategy.

Growing impact of Russia-India energy partnership

Sechin also said that the oil supply to India from Russia has strengthened the economic cooperation between the two countries. Since 2022, India and China have benefited billions of dollars from cheap Russian oil. This makes it clear that the global energy market is no longer just a game of supply and demand, but the role of geopolitics has also increased significantly in it.

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What will be the challenge in the coming times?

Although this growth is an opportunity for India, it also comes with challenges. The increasing demand for oil means that the country’s import dependence may increase further. If prices go up in the international market, it will have a direct impact on petrol-diesel and inflation. According to experts, to strengthen its energy security, India will also have to work rapidly on renewable energy and alternative fuels.

Amidst the worldwide oil crisis, the Indian government has taken a big decision and reduced the export duty on petrol and diesel. The Modi government at the Center said on Saturday (May 30) that export duty on petrol, diesel and aviation turbine fuel (ATF) will be reduced from June 1. According to news agency Reuters, the export duty on petrol has been fixed at Rs 1.5 per liter, while on diesel it will be Rs 13.5 per liter, while the export duty on ATF has been kept at Rs 9.5 per liter.

Review takes place every 15 days
Rates are changing every fortnight (two week period). These changes are decided on the average worldwide prices of crude oil, petrol, diesel and ATF. Usually, the government reviews the oil prices in the international market every fortnight and accordingly the export duty on petrol, diesel and ATF is decided.

However, the same old tax will be levied on petrol and diesel supplied to the common people, nothing new has been added or subtracted from it. Let us tell you that export duty is a kind of indirect tax which the government of any country imposes on the goods sent out of its country (to other countries).

When was the last amendment made?
Export duties in the form of Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC) on exports of petrol, diesel and ATF were first implemented on March 27, 2026. The government said the measure was aimed at ensuring adequate domestic supply of petroleum products in the face of excessive exports, at a time when global energy markets were being affected by the ongoing conflict in West Asia. Officials said that the fee is reviewed and revised every fortnight based on the current conditions of the international market. The previous amendment came into effect from May 16, 2026.

New rates effective from June 1
There will be a duty of Rs 1.5 per liter on export of petrol. This entire amount will be collected as special additional excise duty, while Road and Infrastructure Cess will not be levied. Modi government has fixed the export duty for aviation turbine fuel at Rs 9.5 per liter. This fee will be collected only as special additional excise duty. The revised rates will remain in effect for the next fortnight until the next review and changes are announced.

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Is the world going to get any big and good news regarding the Strait of Hormuz? This is because President Donald Trump has announced to end the US Navy blockade of Hormuz after 50 days. After Trump’s announcement, Iran has also given a positive message regarding Hormuz.

After the attack by America and Israel on February 28, Iran had imposed a naval blockade in the Strait of Hormuz. In such a situation, the movement of all oil tankers, LPG carriers and other commercial ships passing through this important sea route was stopped. In such a situation, the oil crisis had deepened in the entire world. The Iranian Navy and Iran’s militia force, IRGC, started attacking ships passing through here with drones and missiles. During the war, Iran had also planted sea land mines in Hormuz. In such a situation, many ships also became victims of these landmines.

Ceasefire after 40 days of war

The US President and Israel had no idea that Iran would use the Strait of Hormuz as a weapon. In such a situation, due to pressure from the whole world, after 40 days of war, on April 8, Trump announced a ceasefire with Iran. Along with the announcement of ceasefire, Trump had also announced the opening of Hormuz. Even Iran’s Foreign Minister Abbas Araghchi had accepted the idea of ​​opening Hormuz, but under pressure from IRGC, Iran refused to open Hormuz. In such a situation, America had also announced naval blockade on Hormuz.

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Hormuz became the arena of war

The US Navy blockade made the Strait of Hormuz a battlefield. However, the US Navy had imposed this blockade in the Gulf of Oman adjacent to the Strait of Hormuz. America deployed about 20 warships including two aircraft carriers here. There were about 15 thousand sailors in the US Navy fleet stationed in Hormuz. In such a situation, a clash was also seen between the navies of America and Iran.

Iran had given permission to ships from 5-6 countries

However, Iran had initially allowed oil tankers and other commercial ships from a total of 5-6 countries including India to pass through here. Later this list kept increasing. Iran has consistently claimed that Hormuz is completely open for commercial ships. Iran had imposed a complete blockade on enemy countries like America and Israel. However, even during this period, incidents of IRGC attacking several ships also came to light.

Iran again announced that commercial ships can pass, but only after obtaining permission from the IRGC. A few days later, Iran announced to charge toll from ships passing through Hormuz. For this, Iran also formed a special organization named Partial Gulf Strait Authority (PGSA). To avoid mines and assert its dominance, Iran issued a new route map for all commercial ships in Hormuz passing through the north and south of Larak Island.

Iran released new map

On the 20th of this month, Iran once again tried to step on America’s tail and released a new map by declaring its surveillance area up to the Strait of Hormuz as well as the Persian Gulf i.e. the Persian Gulf and the Gulf of Oman.

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According to the PGSA, the Strait of Hormuz was already directly under Iran’s jurisdiction, but now the Iranian Navy is going to take a large part of the Gulf of Oman to the Persian Gulf under its surveillance area. In such a situation, all the commercial ships, oil tankers and warships present in this large part will be allowed to move only after the permission of the Iranian Navy.

Which areas are in the new map of Iran?

In this new monitoring area issued by Iran, a new line has been drawn from Fujairah port of UAE in the south of the Gulf of Oman to Koh-e-Mubarak in Iran. A new line has been drawn from Qeshm Island in Iran to Umm-al-Quwain in UAE in the Persian Gulf. The entire area between these two lines is the new surveillance area of ​​the Iranian Navy.

According to PGSA, all ships passing through this area will have to first obtain permission from the Persian Gulf Authority, for which an email ID was already issued. Ships will be allowed to pass through here only after getting permission. Iran has also talked about creating a new mechanism with Oman for movement in Hormuz. Besides, the tax collected from Hormuz has also been named as environment tax.

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Amidst the rapidly changing situation in Western Asia, a relief news has emerged for India. Another Indian tanker has crossed the Strait of Hormuz. Many websites that monitor maritime transport have given this information. This ship named ‘Nisos Keros’ is going to Visakhapatnam. It is expected to reach there by June 3.

Left from Sharjaha on 21st May

This Marshall Islands-flagged ship had departed from Sharjah on May 21. According to Indian time at 6 am on Friday, it was seen in the North Arabian Sea near the west coast of India. According to Ocvisar, an organization that keeps information about ships, the ship ‘Nisos Keros coming towards Visakhapatnam’ is owned by Arethusa Shipping Corporation. It is being operated by Kiclades Maritime Corporation. This ship is 333 meters long.

IRGC gave permission to 23 ships to pass through the strait in the last 24 hours

Iran’s news agency IRNA reported on Thursday (May 28) that the Islamic Revolutionary Guard Corps (IRGC) allowed 23 commercial ships to pass through the Strait of Hormuz in the last 24 hours, which include oil tankers and container ships.

The report said that according to the Iranian military, the movement of all ships took place after formal coordination with IRGC officials. However, it is not clear whether ships had to pay any toll to pass through Hormuz. Iran has already said that it can charge toll to pass through the Strait of Hormuz.

Agency formed for maritime traffic control

In the same month, Iran had announced the creation of an agency named ‘Persian Gulf Strait Authority’ to control maritime traffic. However, the United Nations has declared collecting tolls for passage through international waterways illegal. America has demanded from Iran to restore free movement in the strait.

Mines laid amid war with US-Israel

After bombing Iran along with America and Israel in February, Iran had laid mines in this route and attacked ships. Restoring free movement in the Strait of Hormuz remains the biggest issue in the talks to end the Iran war.

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Trump warned to keep Hormuz open

US President Donald Trump said on Wednesday, ‘The Strait of Hormuz will be open to all.’ Iran’s actions have affected approximately 20 percent of the world’s gas and oil supply, which passes through this route. This has deepened the global energy and economic crisis. On Wednesday (May 27), Trump suddenly threatened that America could attack Oman if it made an agreement with Iran to collect toll on passing through Hormuz. Oman is located on the other side of the strait opposite Iran.

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Not even 24 days have passed since the election results of 5 states have come and inflation is continuously hurting the pockets of the common man. From petrol-diesel to CNG and edible oil, the price graph seems to be moving upwards everywhere. Why did the prices which were stable during the elections suddenly start increasing? How much more shock is still left? After all, where will this speed stop? Understand complete accounting…

Petrol and Diesel: Box of inflation opened after four years

There was no increase in the prices of petrol and diesel for the last four years. But on May 15, 2026, the prices increased for the first time and then it seemed as if the trend had started. This is the fourth increase in the last 10 days. If we look at the latest figures, on May 25, petrol became costlier by Rs 2.61 per liter and diesel by Rs 2.71 per liter.

After this latest shock, the price of petrol in Delhi has reached Rs 102.12 per liter and the price of diesel has reached Rs 95.20 per liter. The real reason behind these increases is the ongoing geopolitical tension in West Asia. The ongoing conflict between Iran and America has greatly affected the prices of crude oil in the international market. Due to this war, the Indian government tried to protect the general public from the direct impact of the global crisis for 75 days, but during this time the government oil companies were suffering huge losses of about Rs 1,000 crore every day.

LPG: Relief for family members, but trouble for dhaba owners

The government has given big relief to domestic consumers on the LPG cylinder front. There has been no change in the price of 14.2 kg domestic LPG cylinder and its price in Delhi still remains at Rs 913. But those who run hotels, dhabas or restaurants have been hit hard by inflation. From May 1, 2026, there was a huge one-time increase of Rs 993 in the price of 19 kg commercial cylinder. After this increase, the price of a commercial cylinder in Delhi has increased to Rs 3,071.50.

CNG: Rs 6 per kg in 11 days

There is bad news for those who had turned to CNG to avoid petrol and diesel. On May 26, 2026, the price of CNG was once again increased by Rs 2 per kg, which is the fourth increase within two weeks. After this, the price of CNG in Delhi reached Rs 83.09 per kg. Since May 15, there has been an overall increase of about Rs 6 per kg on CNG. In NCR areas like Noida, Ghaziabad and Greater Noida, this price has reached Rs 91.70 per kg.

Edible oil: Inflation is spoiling the kitchen budget

This heat of inflation has now reached your kitchen directly. Edible oil companies are preparing to increase prices by 5 to 10 percent in the month of May itself. In the last few months, companies have already increased prices by Rs 8 to Rs 20 per liter. The reason for this is that due to the cost of crude oil, the demand for biofuel increases, due to which edible oils start being used more in making biodiesel. About 25 percent of edible oil is now being used in making biodiesel, due to which there is a shortage in the market and a rise in prices is being seen.

How much more is left to grow, where will this pace stop?

At present there is no sign of relief. According to Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, even after the current increase, the losses of government oil companies have not been completely eliminated. Even now they are incurring a loss of around Rs 600 crore every day.

Oil companies say that the increase made so far is able to compensate only 10% of their increased losses. In such a situation, it is considered certain that the prices will increase further in the coming 3-4 months. Due to the ongoing tension in West Asia, crude oil prices will continue to fluctuate. Whenever there is any hope of a peace agreement in the region, the prices of crude oil start coming down, but as soon as the talks prove to be inconclusive, uncertainty increases in the market and the prices start skyrocketing again.

Experts believe that there will be pressure on prices in the coming one or two months and they may remain at a high level. But if everything goes well, relief may start coming from July 2026 onwards and prices are expected to be largely normal by the end of the year. Real relief will come only when either the Strait of Hormuz opens completely or a concrete peace agreement is reached between America and Iran.

The government has the option of cutting excise duty, as was done on March 27, but this is a limited and temporary measure. If the global situation does not improve then the common man may have to bear this shock. The opposition has also started cornering the government on this issue and has alleged that the prices were deliberately kept stable during the elections and are being continuously increased as soon as the results are declared.

Today, 88 days have passed since the Iran-America war. On one hand in Doha, American and Iranian negotiators are tussling over the details of the peace agreement, while on the other hand, the US Central Command (CENTCOM) has launched new attacks on missile bases and mine-laying boats in southern Iran. Iran says that America ‘violated the ceasefire’ and it is ready to give a ‘heavy response’ to it. The Strait of Hormuz is still closed, oil prices are hovering around $100 per barrel and the IMF has warned that if the war continues, the world could fall into recession. Let us understand how this war changed the map of the world in the last three months…

February 28: When everything changed overnight

On February 28, 2026, American and Israeli fighter planes together attacked Iran. Rockets, missiles and drones started raining simultaneously on big cities like Tehran, Kermanshah, Tabriz, Qom and Isfahan. US President Donald Trump himself announced by releasing a video on social media, ‘We have started a major military operation on Iran.’ The White House argued that Iran’s nuclear program and missile system had become a direct threat to American security.

But what Trump was considering as ‘a short and victorious war’, turned into a regional storm in three months that broke everyone’s back, from the oil supply chain to the common man’s kitchen. According to BBC report, there were three big explosions in the downtown area of ​​Iran’s capital Tehran, the sound of which was heard several kilometers away.

Iran gave a befitting reply

Iran was also not one to remain silent. Its elite Revolutionary Guards (IRGC) immediately retaliated and fired missiles and drones at US military bases in Bahrain, Jordan, Qatar, Kuwait, UAE and Saudi Arabia. According to the US Defense Department, America has so far targeted more than 10,000 Iranian military targets, while Israel has hit more than 3,000 targets. On the other hand, Iran claims that it has retaliated more than 87 times so far.

This war engulfed Lebanon, Yemen, Iraq, Syria and the entire Gulf region. According to Al Jazeera, by May 20, 2026, 3,468 people had been killed and more than 26,500 injured in Iran alone. In Lebanon, 3,042 people died and more than 9,300 were injured. 26 soldiers in Israel, 13 in America and more than 12 in Gulf countries lost their lives.

Hormuz blockade and crazy oil prices

The biggest and most immediately visible impact of this war was on the Strait of Hormuz. This is a narrow sea route, but about 20% of the world’s sea oil passes through it. According to the US Energy Information Administration (EIA), about 20.9 million barrels of oil would pass through this route daily in the first half of 2025.

Iran blockaded this route in the initial days of the war, after which the oil supply chain was completely disrupted. According to data from trade intelligence firm Kpler, only 144 commercial ships passed through Hormuz between March 1 and March 23, a massive 95% drop from before the war. As a result, the price of Brent crude jumped to $ 138 per barrel in late April. At present, on May 27, it is hovering around $100. According to EIA, production of about 10.5 million barrels per day of Iraq, Saudi Arabia, Kuwait, UAE, Qatar and Bahrain came to a standstill in April.

‘Perfect storm’ for India

India imports more than 85% of its crude oil needs and was worst hit by this war. The blockade of Hormuz directly hit India’s supply line. Constrained, Indian refineries turned to Africa and Latin America and started buying oil from Nigeria, Angola, Brazil and Venezuela. Not only this, after getting a temporary exemption from America, India also started buying crude directly from Iran for the first time after seven years. But this did not bring relief.

The burden of rising oil prices in the international market has finally fallen on the common Indian consumer. Government oil companies (OMCs) increased the prices of petrol and diesel for the fourth consecutive time in May 2026. In Delhi, petrol crossed Rs 102.12 per liter and diesel crossed Rs 95.20 per liter. ONGC Director (Exploration) Sushma Rawat told ANI, ‘The government gave relief to the public for 75 days, during which the price was not increased. But oil companies were incurring losses of around Rs 1,000 crore every day. How long can this be tolerated?’

Expensive oil also broke the back of the rupee. The rupee has continuously weakened against the dollar since the war started. According to media reports, the rupee has fallen by more than 7% so far in 2026 and on May 27 it reached the level of 95.75. Experts say that it may soon cross 100.

Shattering world: Crack in NATO, China’s advantage

This war has once again divided the countries of the world into two camps. On one side is America, which expected open support from its NATO allies, but exactly the opposite happened. Powerful European countries like France, Germany, Italy, Spain and Poland clearly refused to support America in this war. Spain did not even allow American fighter planes to use its airspace. Due to this resentment, the Trump administration has even threatened to take action against these ‘incompetent’ associates.

On the other side are China and Russia. China, which is already the largest buyer of Iranian oil, seems to be benefiting from this crisis as well. It is continuously buying oil from Iran at huge discounts and is challenging the supremacy of the dollar by paying through Yuan or barter system. Experts believe that the longer this war continues, the more China’s bargaining power will increase.

Fear of brakes and recession on the economy

The International Monetary Fund (IMF) had warned in April that if this war continues any longer, the world could enter a recession. Even in its most optimistic estimate, the IMF has reduced global growth forecast for 2026 to 3.1%. But in the second picture, global growth may fall to 2% and inflation may go above 6%.

The International Energy Agency (IEA) says that more than 80 energy facilities have been damaged during the war and their recovery may take up to 2 years. The IEA has also warned that even if the war ends next month, the oil market will remain ‘severely undersupplied’ until October 2026.

According to IMF, Iran’s GDP alone may shrink by 6.1% this year. At the same time, the economies of Gulf countries like Qatar (8.6%), Iraq (6.8%), Kuwait (0.6%) and Bahrain (0.5%) are also expected to be adversely affected.

A fragile compromise or towards disaster?

Dr. Prosenjit Biswas, expert on foreign affairs and professor of NEHU, says, ‘After 87 days of this conflict, now efforts for peace are intensified from both the sides. A delicate agreement is being negotiated in Qatar’s capital Doha, under which the Strait of Hormuz will be gradually opened and America will remove its naval blockade. In return, Iran would get access to billions of dollars of its frozen assets and be allowed to export limited oil. The most important issue is Iran’s nuclear program, in which Tehran can surrender its highly enriched uranium within 60 days.

On May 27, 2026, the US military once again carried out ‘defensive attacks’ in southern Iran, in which missile launch sites and mine-laying boats were targeted. Iran has warned of a strong response, calling it a ‘blatant violation of the ceasefire’.

US Secretary of State Marco Rubio said during his visit to India that ‘it may take a few more days for the deal to be made.’ At the same time, Iran’s Supreme Leader Mujtaba Khamenei says that ‘the hands of the clock cannot be turned back.’ Trump himself wrote on social media, ‘Either there will be a good deal or we will have to deal with it in another way.’

The world is watching with bated breath. At what point will this war, which has shown the reality of the price of oil and the division of the world, finally stop? At present the answer to this question is hidden in the waves of Hormuz itself.

The date of 28 February 2026 changed the political map of the entire world. On this day, America and Israel together launched the biggest military attack on Iran. But within just two months, a new and bigger battle broke out on the war front. Now the fight is not against Iran, but has become a litmus test for the mutual relations between America and Israel. On one hand, US President Donald Trump wants a deal to end the war, while on the other hand, Israeli Prime Minister Benjamin Netanyahu is adamant on continuing the attacks. The phone conversation between the two leaders on 20 May 2026 was so intense that it was described as ‘difficult’ and ‘dramatic’. Despite this, America and Israel will not become enemies, why?

That night of the phone call, when ‘Bibi’s hair was on fire’

On the evening of May 20, there was a heated argument over the phone for an hour between President Trump and Prime Minister Netanyahu. Trump told Netanyahu that a ‘Letter of Intent’ is being prepared with Iran under the mediation of America, Qatar and Pakistan, once signed, the war will formally end. Then there will be discussions for 30 days on issues like Hormuz Strait and Iran’s nuclear program. But Netanyahu became furious after hearing this from Trump.

According to the NYT report, an American source said that ‘after that call, Bibi’s hair was on fire.’ Netanyahu said that instead of a deal, the army should carry out more attacks so that Iran becomes completely weak. He bluntly told Trump that stopping the attacks was ‘a big mistake’.

Why are Trump and Netanyahu clashing with each other?

Foreign affairs expert and JNU professor Dr. Rajan Kumar says, ‘This conflict is not just between two leaders, but about two different strategies. This war has now become a political and economic headache for Trump. In retaliation, Iran has almost completely blocked the Strait of Hormuz, due to which 20 percent of the world’s oil supply has come to a standstill. The result is that petrol prices in America are skyrocketing and Trump’s approval rating is falling. Americans’ confidence in Trump’s economic policies has declined sharply in April 2026.

On the other hand, Netanyahu’s stance is absolutely strict. They have three conditions:

1. All the enriched uranium of Iran should go out of the country.
2. Iran should end its ballistic missile program.
3. Iran should stop providing support to armed groups it supports throughout the Middle East (such as Hezbollah in Lebanon and Houthi in Yemen).

Netanyahu believes that making a deal without these conditions would be like giving Iran a chance to escape.

Despite this, why does America not step back from helping Israel?

This is not the first time that an American President has been angry with some Israeli action. But the interesting thing is that despite this sourness that happens from time to time, the American aid to Israel never stops. What is the reason? The reason for this is not just Netanyahu, but the unbreakable nexus of American politics and strategy, which has been continuously getting stronger for the last 78 years.

1. Strategic Asset: An ‘Unsinkable Aircraft Carrier’

For America, Israel is not an ordinary ally, but a very important ‘strategic asset’. Since the Six-Day War of 1967, American policy makers had considered Israel as a strong weapon of their strategy in the Middle East. This was the period when the Soviet Union was strengthening its hold in this region by supporting the Arab countries. In such a situation, Israel emerged as a force for America that could stop this influence. The then US Secretary of State Alexander Haig had even said that ‘Israel is the largest American aircraft carrier in the world, which cannot be sunk.’

The Yom Kippur War of 1973 proved decisive. When Israel was simultaneously attacked by Egypt and Syria, America started providing emergency military supplies in large quantities. This incident made it clear that America’s first task is to save Israel’s existence. After this, from the late 1970s, American aid changed from loans to grants and then this trend never stopped.

2. From IPAC to billions of dollars of military aid

Every year about $3.8 billion in military aid goes to Israel from America. It’s not just money. This is a fund from which Israel has to spend 80 percent of the money on purchasing weapons from American companies. This means clearly – Israel is a sure and biggest customer for the American military industry.

This ‘aid’ given to Israel is actually a subsidy for the American defense industry and Israel is also a testing ground for new American weapons. The package of military aid given by the Obama administration to Israel worth $38 billion was the result of this thinking. No matter who the President was – Trump, Biden or Obama, this figure never decreased.

Another big force works behind this – American Israel Public Affairs Committee i.e. AIPAC. This is such a powerful lobbying group that has a deep hold on the leaders of both Democratic and Republican parties. But experts believe that AIPAC does not create any new strategy, rather it strengthens the already existing idea of ​​American interests and Israel’s importance.

3. Not just money, technology is also a game

Dr. Rajan Kumar says that this relationship is not just about transaction, but also about technology and innovation. Take the Iron Dome missile defense system. America has contributed more than 1.6 billion dollars in making it. But who really benefited from it? American companies made its components and software. To put it simply, this is a ‘profit-dependent conflict structure’, that is, the more war, the more sales. This is the reason why senior officials like former CIA chief and former Defense Minister also join the boards of defense companies after retirement, so that this relationship deepens.

Netanyahu himself now wants to reduce this dependence. He recently said that he wants to bring American military aid to zero in 10 years and make Israel self-reliant. A big reason behind this is that Israel’s image is weakening among the American public. According to a Pew Research Center survey, about 60 percent of Americans now view Israel negatively.

So will the relationship between America and Israel break?

Foreign affairs expert and retired JNU professor A. Of. Pasha says, ‘This is not just a rift between two leaders, but the face of American politics which has remained the same for the last 78 years. No matter how big the conflict may be, the triple rope of strategy, money and technology tied at the foundation of this relationship is not going to be broken so easily.

At present, the eyes of the whole world are on whether this political tug of war between Trump and Netanyahu reaches a historic deal, or whether another dangerous military attack is announced against Iran.

Amidst the ongoing energy crisis and inflation across the world, an appeal made by Prime Minister Narendra Modi has seen a completely opposite effect in Jammu. PM Narendra Modi had urged the countrymen to use less edible oil. But after this appeal in Jammu, there is panic in the market. Instead of using less, people have started buying more and more oil due to fear of shortage and inflation.

In view of the global crisis, Prime Minister Narendra Modi had recently requested the countrymen to minimize the use of edible oil in their kitchen. The Prime Minister had said that if people do this, it will be a big step taken in the direction of national interest and patriotism.

When Rahul Gandhi called PM Modi a ‘traitor’, Mehbooba Mufti said, ‘So much…’

Fear started troubling the oil trader

Initially, the oil traders of Jammu were quite nervous after hearing this appeal. They started fearing that the Prime Minister’s call would have a direct impact on their business and there would be a huge decline in oil sales. But, the ground reality proved to be exactly the opposite.

Traders’ worries gone, competition to order stock

Jammu’s big oil trader Suraj Singh says that after the Prime Minister’s appeal, the market environment has completely changed. There is a fear among the people that there may be a huge shortage of edible oil in the coming days and they may have to face huge inflation. Due to this fear (Panic Buying), people have started buying more oil than their requirement and stocking it in their homes.

Suraj Singh said that due to this sudden increase in demand, the prices of mustard oil in Jammu have increased by about ₹ 30 per liter. Despite the increasing prices, people are continuously purchasing. In view of this unexpected demand for oil in the market, traders are now having to order additional stock from outside, so that the needs of the customers can be met.

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