Escalating tensions in West Asia and shipping disruption in the Strait of Hormuz are beginning to affect multiple sectors of the Indian economy, from energy and fertilisers to aviation and exports. ADVERTISEMENTENERGYIndia imports about 85 per cent of its crude oil and roughly half of its LNG requirement. Of this, nearly 40–50 per cent of crude oil and 50–60 per cent of LNG supplies pass through Hormuz. Brent crude prices shot up to about $82–84 per barrel from $66–67 a barrel during January–February 2026, while Asian spot LNG prices have surged to $24–25 from around $10 per MMBtu. FERTILISERIndia imports about 30 per cent of its fertiliser requirement, with West Asia accounting for roughly 40 per cent of supplies.

Source: The Telegraph March 06, 2026 01:07 UTC