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For an Indian motorist watching another round of tension in the Strait of Hormuz, the most practical question is simple: will the next visit to the petrol pump cost more? For now, the answer is not automatically.
Iranian military officials claim Tehran controls the Strait of Hormuz as ship traffic falls sharply and Iran warns it could launch pre-emptive operations. Here's what is actually happening and why the crisis matters for India's oil bill, rupee and inflation.
Brent crude remains above $100 as Iran says normal Strait of Hormuz passage will not resume until its conditions are met. A 100-million-barrel G7 emergency stock release and stronger Middle East exports are limiting further oil-price gains.
Iran’s Revolutionary Guards Navy says the Togo-flagged oil-products tanker caught fire and stopped after attempting what Tehran called an “illegal passage” on September 17. No independent confirmation of the strike, casualties or cargo damage was immediately available as shipping through the strateg
Iran says it attacked 10 ships near the Strait of Hormuz after the US destroyed five Iranian oil tankers, sending Brent crude above $100 as global supply fears intensify.
The US says it destroyed five Iranian oil tankers before Iran fired missiles toward a US-used base in Jordan and claimed attacks on ships near the Strait of Hormuz.
The US-Iran conflict has entered another dangerous phase as strikes on tankers, missile attacks and renewed disruption in the Strait of Hormuz threaten global energy supplies.
