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By S DINAKAR India’s dependency on volatile foreign oil and natural gas markets will be further tested after Iran fired scores of missiles and drones on

Any escalation that may hit the oil production of Iran or affect the oil transit through the Strait can result in a spike in oil prices.

Pacific Island Nation Tells Venezuela ‘That Oil Tanker Isn’t Ours’ Bloomberg 1/14/2021 Lucia Kassai © Bloomberg Oil tankers are seen anchored in the Pacific Ocean as the sun sets in this aerial photograph taken above Long Beach, California, U.S., on Friday, May 1, 2020. The volume of oil on vessels located just offshore the state peaked at 26 million barrels over the weekend, about a quarter of the worlds daily consumption, before dropping to 22 million barrels on Mon...

Oil Tanker Near Iraq Finds Mine on Hull as Gulf Risks Mount Bloomberg 1/1/2021 Khalid Al-Ansary, Verity Ratcliffe and Alex Longley © Bloomberg Oil tankers are seen anchored in the Pacific Ocean as the sun sets in this aerial photograph taken above Long Beach, California, U.S., on Friday, May 1, 2020. The volume of oil on vessels located just offshore the state peaked at 26 million barrels over the weekend, about a quarter of the worlds daily consumption, before dropping to ...