"This mission will guarantee that Iran can never obtain a nuclear weapon. As the Department of War said this morning, we expect to have complete and total dominance over Iranian airspace in the coming hours, clearing the skies for our brave warriors," she added.
This move comes amid escalating tensions in West Asia and after its energy infrastructure was targeted, including the Strait of Hormuz, a critical oil shipping route, which is currently under threat.
Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, on Wednesday stated that with crude oil prices remaining elevated, the rupee is likely to face continued depreciation pressures.
"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.