Middle East Tensions Leave India with Only 25 Days of Crude Oil Stock, Reports Cite

New Delhi. Due to rising tensions in the Middle East, India has only 25 days of crude oil and refined oil stock remaining, according to Indian media reports.  

News agency ANI provided this information, citing government sources regarding India's energy security. However, the government has stated that it will not increase petrol-diesel prices immediately for now.  

Iran has announced the closure of the Strait of Hormuz. Furthermore, the Iranian army has warned that any vessel passing through this route will be set on fire. This strait, located between Oman and Iran, is considered the most significant for the world's oil trade.  

The closure of the Hormuz route will affect the oil supply of many countries worldwide, with Asian countries, including India, being the most impacted. Due to the closure of this route, the price of crude oil in the global market could rise above $100 per barrel.

Currently, the price of Brent crude has increased by about 5.585 to around $80.41 per barrel.