Oil prices have surged past $100 per barrel as global markets anticipate prolonged tensions in the Middle East, particularly involving Iran. The rise follows concerns over the security of shipping routes, with U.S. officials confirming that military escorts for tankers through the Strait of Hormuz are not yet operational. President Donald Trump stated that maintaining pressure on Iran is a higher priority than managing oil price levels. Meanwhile, disruptions in the Gulf region continue to affect energy supplies, contributing to rising costs and supply issues.
In India, consumers and businesses are experiencing difficulties accessing cooking fuel, with shortages and elevated prices reported. These challenges are directly linked to the ongoing instability in the region, which has impacted global supply chains. As uncertainty persists, markets remain sensitive to developments in the Middle East, with energy traders closely monitoring diplomatic and military actions that could further influence oil availability and pricing.