Brief by Shorts91 Newsdesk / 06:05am on 03 Mar 2026,Tuesday India Global
Nearly 700 tankers are stuck near the Strait of Hormuz as fighting in West Asia disrupts oil movement. Data shows crude traffic has dropped sharply in recent days. Oil prices have risen, with Brent touching around $80 per barrel. India, which depends heavily on Gulf oil and LPG, is reviewing the situation. Reports say the government may limit fuel exports and consider LPG rationing if delays continue. The oil ministry said supplies are being monitored closely. India has reserves that can cover several weeks of demand. However, a long crisis could strain fuel supply and raise prices further.
