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The immediate trigger for the latest surge was a series of attacks by Yemen's Iran-backed Houthi group on Saudi oil tankers in the Bab al-Mandab Strait, a strategic maritime chokepoint linking the Red Sea with the Gulf of Aden.

Global oil prices hits $100 amid West Asia tensions. Here's why

July 24, 2026 11:13 am

The escalation has also pushed up wholesale natural gas prices in Europe. The benchmark UK gas price has climbed to around 150 pence per therm, compared with about 98p at the end of June.

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Outlook for oil remains extremely vulnerable to geopolitical risks: Reliance Industries Ltd

May 29, 2026 1:37 am

Global oil demand growth is expected to be sluggish due to higher oil prices and economic slowdown in FY 2026‑27 amid West Asia conflict, RIL said in its annual report. Crude oil has been highly volatile since March this year when the US-Israel conflict started.

India an ‘oasis of comfort’ on fuel supplies, rationing ‘not going to happen’: Oil Secretary

May 11, 2026 9:11 pm

Unlike petrol and diesel, in which India is self-sufficient and is also a net exporter, the country depends on imports to meet 60% of its LPG requirement, 90% of which depended on the Strait of Hormuz.

Oil slips after Trump says US will assist ships stranded in Strait of Hormuz

May 04, 2026 11:57 am

Negotiations between the US and Iran continued over the weekend with the countries assessing ⁠responses from ‌each other.

War in West Asia: Why it has drawn comparisons with the 1973 oil price crisis

April 04, 2026 6:05 pm

The 1973 crisis removed about 4.5 million barrels per day from global supply. In contrast, the ongoing closure of the Strait of Hormuz has blocked around 20 million bpd. Here is what to know

At BRICS, India’s Iran challenge is navigation, not resolution

At BRICS, India’s Iran challenge: Navigation, not resolution

March 26, 2026 12:26 am

Having positioned itself as the leader of the Global South, New Delhi must balance its aspirations with the demands of its strategic partnerships

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US has allowed 30-day sale of Iran oil at sea to curb prices. Can India benefit?

March 21, 2026 12:20 pm

The sanctions waiver will bring at least 140 million barrels of oil to global markets. India could very well be among the major beneficiaries of this move, considering Iran was once a major oil supplier to the country.

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House panel urges Petroleum ministry to maintain 90-day crude oil stock

March 18, 2026 1:53 am

The 31-member committee led by Raigad MP Sunil Dattatray Tatkare (NCP) has 21 Lok Sabha MPs and 10 from the Rajya Sabha as members.

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Oil price rise: Market sinks 5% in a week, logs worst 4-yr weekly fall

March 14, 2026 3:40 am

Both the indices are currently trading around their lowest levels in around a year. Despite reaching record highs on a couple of occasions, both have been in a consolidation phase over the past 18-24 months. They are now near February 2024 levels.