Tankers traveling through the Strait of Hormuz, which is bordered in the north by Iran, transport energy supplies from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE and Iran. About 20% of the world's daily oil consumption passes through the Strait of Hormuz. On India, Brokerage Jefferies Group said, “A prolonged conflict, alongside a large jump in energy prices, ⁠would be a major macro negative [for India]”. “About 50% of India’s oil imports and 60% of its LNG pass through the Strait of Hormuz, which has been blocked by Iran. According to the Tea Association of India, tea exports could also face huge disruption if shipping through Strait of Hormuz stays shut.

Source: Mint March 06, 2026 02:14 UTC