"oil-crisis"

Escalating tensions around the Strait of Hormuz following the US–Israel conflict with Iran are rattling global energy markets, exposing Asia’s heavy dependence on Gulf oil

The closure of Strait of Hormuz, which carries nearly 20% world’s oil supply, could push up oil prices for import-dependent India, widening the current account deficit, weakening the rupee, and fuelling inflation

Putin’s regime had been using gas supply cuts as a pressure tool against Ukraine since 2005-06, when EU gas supplies were also affected