Three weeks on, there is no sign of a let-up, only escalation — this sums up the US-Israel-Iran war that started as a regional conflict but is now impacting the whole world, and India is no exception. With our heavy dependence on imported fossil fuels, most of which passes through the Strait of Hormuz, the oil supply is severely hit, and as the war prolongs, things will get worse. The impact is staggering. The oil markets are in a tizzy, oil prices have already reached $119 per barrel. Experts feel that oil prices will touch $150 per barrel within a matter of weeks if the war does not end or some sort of mechanism to supply oil through Hormuz is not reached. The Iran war has once again exposed the fragility of global energy markets-and India’s deep vulnerability to........

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