"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD. The United States' ECONOMIC and MILITARY MIGHT is the GREATEST ON EARTH - More actions t
The sources further stated that India is in a comfortable position with respect to LPG and LNG supplies. The government, according to sources, is keeping a close watch on the global energy market to ensure uninterrupted supplies for the country.
Following the outbreak of hostilities in the Middle East and the evolving global energy situation, Hardeep Singh Puri, Minister of Petroleum & Natural Gas, informed that "the country is well stocked with crude oil and inventories of key petroleum products including petrol, diesel and ATF to
hree Indian seafarers, serving on board foreign-flagged vessels, were killed, and one person was injured amid the escalating tensions in the West Asia region.
Crude oil prices may surge above the USD 100 per barrel threshold if there is any structural disruption to oil infrastructure amid the ongoing military escalations in West Asia, according to a report by ICICI Bank.
Energy policy expert Narendra Taneja expects stability to return within 7 to 10 days, as he predicts the US and Israel would likely call for diplomatic negotiations after their objectives are met.
The European Union has expressed grave concern over the escalating situation in Iran and the Middle East, condemning Tehran's actions and reaffirming its commitment to regional stability, sanctions enforcement and diplomatic efforts to prevent Iran from acquiring a nuclear weapon.
In an official circular, the DCS asked the seafarers to follow official advisories issued by the Ministry of External Affairs and the Embassy of India, Tehran, and exercise utmost caution while operating in Iranian waters or nearby regions.
Following the reported deaths of Iran's Supreme Leader and top military chiefs in US-Israeli strikes, regional tensions have erupted. While an oil tanker was targeted off Oman, Iran has launched retaliatory strikes against US-linked targets in several Gulf states, sparking fears of an esc