Brief by Shorts91 Newsdesk / 06:47pm on 22 Jun 2025,Sunday International
Iran is planning to shut down the Strait of Hormuz after US airstrikes hit three of its nuclear sites, Iranian media reported. This narrow sea route is a major path for oil and gas shipments. About one-fifth of global oil supply moves through it. India gets nearly 2 million barrels of crude oil daily via this route. Experts say India has other options like Russia and the US, so supply may not be hit. However, oil prices may rise to $80 per barrel. The tension could affect global markets and increase pressure in the already stressed energy sector.
