Global Fuel Crisis Triggered by War, Says PM Modi

PM urges citizens to ignore rumours, trust official information

Prime Minister Narendra Modi on Sunday said the ongoing conflict in West Asia has triggered a global petrol and diesel crisis. Addressing the 132nd episode of his monthly radio programme ‘Mann Ki Baat’, he asserted that India is managing the situation effectively despite the turmoil.

The Prime Minister warned citizens against falling for unverified claims circulating on social media. “Do not believe rumours. Trust official information shared by the government,” he said, adding that some elements are trying to disturb the country’s stability.

Energy Crisis Due to War

Modi explained that the war-affected region is a critical source of global energy supplies. The prolonged conflict has disrupted production and supply chains, leading to price volatility worldwide. He credited India’s strong diplomatic ties and cooperation with other nations for helping the country navigate the challenge.

“Our progress over the past decade has given us the resilience to face such global headwinds,” the Prime Minister said.

Appeal Against Misinformation

The Prime Minister’s appeal came amid rising anxiety over fuel prices in several states. He urged the 1.4 billion citizens to stay alert and not amplify unverified messages. “Just like in past crises, the collective strength of India’s people will help us overcome this situation,” Modi said.

Government sources indicated that multiple fake advisories regarding fuel rationing have been circulating on messaging platforms. Officials confirmed that no such restrictions are under consideration.

March’s Global Turmoil

Modi noted that March 2026 has been an exceptionally difficult month for the world. After the long shadow of COVID-19, global recovery hopes have been dented by fresh conflicts. “New wars have emerged in different regions,” he said, without directly naming any country.

The Prime Minister’s remarks come as fighting between US-Israel allies and Iran continues for over a month. The conflict has already claimed hundreds of civilian lives and displaced thousands.

Assistance to Indians in Gulf

The Prime Minister expressed deep gratitude to Gulf countries for protecting Indian nationals working there. “More than one crore Indians live and work in the Gulf region. I am deeply grateful to these nations for providing every possible assistance,” Modi said.

External Affairs Ministry sources confirmed that no major evacuation has been required so far. Indian embassies remain in close touch with community leaders across the UAE, Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain.

Youth Power and Nation Building

During the broadcast, Modi also described India as the “world’s youngest country”. He highlighted the role of ‘Mera Yuva Bharat’ (MY Bharat) organisation in channelling youth energy for positive development. “When the nation’s youth are harnessed for nation-building, it provides immense support,” he said.

The Prime Minister praised Jammu and Kashmir’s Ranji Trophy victory, calling it a testament to the region’s sporting talent.

What Next

The government is expected to monitor global crude prices closely in the coming weeks. Officials said India continues to explore diversified energy sources and strategic reserves to cushion domestic consumers. The next episode of ‘Mann Ki Baat’ is scheduled for the last Sunday of April.

US-Israel-Iran War: Strait of Hormuz Paralysis Triggers Worst Global Energy Crisis in History

The world is watching the most consequential energy crisis since the 1970s oil shocks unfold in real time. The ongoing US-Israel military campaign against Iran, which began on February 28, 2026, has effectively shut down the Strait of Hormuz — the narrow waterway through which approximately one-fifth of the world's entire oil supply passes every single day. With no end in sight to the conflict, global oil prices have surged more than 40% since the war began, financial markets are in turmoil, and the ripple effects are being felt from American gas stations to Indian household budgets.

Where Oil Prices Stand Right Now

The numbers tell the story starkly. Brent crude, the most important global oil benchmark, has risen from approximately $70 per barrel before the war began to topping $106 a barrel — with violent daily swings reflecting the war's rapidly shifting diplomatic and military developments.

The price trajectory over the past four weeks has been extraordinary:

• March 2, 2026: Brent jumped 15% to $83/barrel as Iran announced Hormuz closure.
• Early March: Prices surged past $119/barrel at peak fear.
• March 22: Brent touched $114 after Trump threatened to "obliterate" Iranian power plants.
• March 23: Prices plunged 11% to $99.94 after Trump announced "productive conversations" with Iran.
• March 24–27: Brent climbed back above $104–$106 as ceasefire hopes faded and overnight strikes continued.

US gasoline prices, meanwhile, have climbed from around $2.93/gallon before the war to a national average approaching $3.72–$3.94 per gallon, with California already above $5 per gallon. Goldman Sachs has raised its oil price forecasts sharply, now expecting Brent to average $110 in March and April — and warning that if Hormuz flows remain at just 5% of normal for ten weeks, prices could exceed their all-time 2008 record of $147 per barrel.

The Strait of Hormuz: A World Chokepoint in Crisis

The Strait of Hormuz — the narrow passage between Iran and Oman linking the Persian Gulf to the open ocean — is the most strategically critical waterway on earth. Under normal conditions, approximately 138 ships transit the strait every single day, carrying crude oil from Saudi Arabia, the UAE, Kuwait, Iraq, and Qatar to markets in Asia, Europe, and beyond.

Since the war began, that number has collapsed to fewer than five ships per day. At least 16 commercial vessels have been attacked in the region. QatarEnergy, the world's largest LNG producer, has declared force majeure on all exports. Saudi Arabia's largest refinery and Qatar's export terminals have been hit by drone strikes.

The International Energy Agency has called this "the largest disruption to global energy supplies in history" — worse than both the 1973 and 1979 oil crises combined, and surpassing even the 2022 energy shock triggered by Russia's war on Ukraine.

Trump's Ultimatums, Pauses, and Talks

President Donald Trump has been at the centre of the diplomatic storm, oscillating dramatically between threats and overtures:

• He threatened to "obliterate" Iranian power plants if Tehran did not reopen the strait by Monday evening.
• Iran's IRGC responded by vowing to keep the strait closed indefinitely and to target US and Israeli energy infrastructure if attacked further.
• Trump then announced "very good and productive conversations" with Iran and ordered a five-day pause on strikes against Iranian energy infrastructure.
• He subsequently extended that pause by ten more days to April 6, 2026, saying talks are "going very well."
• Iran has publicly denied that any direct talks with Washington are taking place.
• Trump has also floated the idea of "taking over" the Strait of Hormuz — a proposal that legal experts say would likely constitute a violation of international maritime law under UNCLOS without Iranian and Omani consent.

Meanwhile, the conflict on the ground continues. Israel struck more than 50 targets inside Iran overnight. Iranian missiles have hit Tel Aviv, East Jerusalem, and multiple Gulf states including the UAE, Bahrain, Kuwait, and Saudi Arabia. An Israeli soldier was killed in ground operations against Hezbollah in southern Lebanon.

The Global Economic Fallout

The economic consequences of the Hormuz closure extend far beyond oil prices:

Stock Markets: Global equity markets have suffered five consecutive losing weeks — the longest such streak in nearly four years. The S&P 500 has entered correction territory, falling more than 10% from its all-time high. Asian and European markets have posted similar declines.

Food Security: Gulf nations — which import over 80% of their caloric intake through the Strait — are facing a full-scale grocery supply emergency. Retailers are airlifting staples as 70% of the region's food imports are disrupted.

Natural Gas: LNG supply disruptions from Qatar are compounding the energy crisis, with natural gas prices surging alongside crude.

Emerging Economies: Countries like India, Ethiopia, and others heavily dependent on Gulf oil imports are experiencing severe price shocks in fuel and food, with limited buffers against a sustained supply disruption.

IEA Response: Member nations of the IEA have agreed to release a record 400 million barrels of oil from strategic stockpiles — the largest such release in the agency's history — in an attempt to moderate prices.

What Happens Next?

The next critical milestone is April 6, 2026 — the deadline Trump has set for Iran to demonstrate progress on negotiations before US strikes on Iranian energy infrastructure resume. Four scenarios are currently being tracked by markets and policymakers:

• Diplomatic breakthrough: A ceasefire deal reopens the strait — oil prices could fall sharply.
• Partial opening: Iran allows select vessels through under negotiated protocols — gradual price relief.
• Status quo continuation: No deal by April 6 — strikes resume, prices push toward or beyond $120.
• Full escalation: Attacks on Iranian power plants trigger IRGC retaliation — Goldman Sachs warns of prices surpassing the 2008 record.

What This Means for India

India, which imports approximately 85% of its crude oil requirements, is acutely exposed to this crisis. Rising crude prices translate directly into higher petrol and diesel prices, elevated LPG costs, rising inflation, and pressure on the rupee. The government is currently monitoring the situation closely, while assessing the pace at which domestic strategic petroleum reserves can be activated and alternative supply sources from Russia, the US, and West Africa can be scaled up.

The US-Israel-Iran war and the Strait of Hormuz crisis represent the most serious test of global energy security in a generation. With Brent crude hovering above $104, diplomatic signals oscillating by the hour, and the April 6 deadline fast approaching, the world is holding its breath. For ordinary citizens — from American motorists to Indian households — the cost of this geopolitical standoff is rising every single day. Resolution, when it comes, cannot come soon enough.

The escalating US-Israel-Iran conflict has taken a dangerous turn with threats targeting critical energy infrastructure, as the war enters its fourth week.

Trump Issues 48-Hour Ultimatum to Iran Over Strait of Hormuz Blockade

US President Donald Trump has warned Iran to fully reopen the Strait of Hormuz within 48 hours or face devastating US strikes on its power plants. Iran's leadership has responded with vows to inflict irreversible damage on regional infrastructure if its own facilities are hit.

Trump's Stark Warning

In a post on Truth Social late Saturday, Trump declared that failure to ensure unrestricted passage through the Strait of Hormuz would prompt the United States to “hit and obliterate” Iranian power plants, beginning with the largest ones. The ultimatum, issued amid ongoing disruptions to global oil flows, marks a sharp escalation barely a day after Trump suggested winding down military operations.

The Strait of Hormuz, a narrow waterway linking the Persian Gulf to the Arabian Sea, handles around 20 per cent of global oil and liquefied natural gas supplies. Iran has effectively restricted traffic since the conflict began on February 28, with threats, drone attacks, and mine-laying activities deterring most commercial vessels.

Iran's Defiant Response

Iran's parliament speaker Mohammad Bagher Ghalibaf warned on Sunday that any attack on Iranian power plants or infrastructure would make “vital infrastructure as well as energy and oil infrastructure across the entire region” legitimate targets for irreversible destruction. He cautioned that such actions would drive oil prices higher for an extended period.

Spokesperson for Iran's Khatam al-Anbiya central command, Ebrahim Zolfaghari, echoed the threat, stating that energy, desalination, and IT facilities linked to the US and Israel in West Asia would face retaliation if Iran's fuel and energy sites are struck. Iran's representative to the International Maritime Organization, Ali Mousavi, clarified that foreign vessels could transit the strait with coordination from Iranian authorities for security, while respecting Tehran's territorial rights.

Context of the Ongoing War

The US and Israel launched Operation Epic Fury on February 28, targeting Iranian military sites, nuclear facilities like Natanz, and leadership, including the killing of Supreme Leader Ali Khamenei. Iran retaliated with ballistic missile and drone barrages against Israel, US bases, and allies in the Gulf.

Recent days have seen intense exchanges: Iran launched missiles at southern Israeli cities Dimona and Arad, injuring over 100 people, including children. Israel reported intercepting 92 per cent of more than 400 Iranian missiles fired since the war started. Strikes have damaged Iranian water and energy networks, with Tehran's energy minister reporting heavy losses.

The conflict has spilled over, with Hezbollah clashes in Lebanon, attacks on US positions in Iraq, and drone interceptions by Gulf states like Bahrain and Saudi Arabia. Global energy markets have reeled, with oil prices surging and airlines facing massive losses from rerouting and higher jet fuel costs.

Impact on Global Energy and Shipping

The near-closure of the Strait has triggered supply fears, pushing Brent crude higher and prompting the G7 to signal readiness for measures like stockpile releases. An LPG tanker from the US arrived safely at New Mangalore Port in India, highlighting alternative routes amid the crisis.

Iranian officials, including Deputy Defence Minister Reza Talaei-Nik, insist Tehran's missile and drone capabilities remain robust despite US claims of degraded defences. They assert control over the strait's security through domestic production and strategic reserves.

What Lies Ahead

The 48-hour deadline expires Monday evening, raising risks of further strikes on power infrastructure. Analysts warn that mutual targeting of energy assets could spark a broader regional crisis, disrupting desalination plants vital for Gulf water supplies and sending oil prices soaring. Diplomatic channels, including talks involving Oman, remain active, but military posturing dominates.

As the US-Israel-Iran war intensifies, the focus on the Strait of Hormuz blockade underscores the fragile balance of global energy security.

Israel Targets Iran’s Top Security Official as War Enters 18th Day

Israeli forces claimed they struck Iran’s security chief Ali Larijani in a fresh operation, but his fate remains unclear, Reuters reported citing Israeli media. Iran has not yet commented. This development comes as the US-Israel campaign against Iran marks its 18th day with no signs of slowing down.

The Israeli Defence Forces (IDF) also launched a “massive wave” of strikes on Tehran, Shiraz and Tabriz, hitting regime-linked infrastructure, missile sites and air defence systems. Multiple explosions rocked northern Tehran near the Saadabad Palace, while air defence systems in Tabriz were reportedly shelled.

Indian Tanker Brings Relief Amid Global Oil Crunch

In a positive development for India, the Indian LPG tanker MT Nanda Devi docked at Vadinar Port in Gujarat’s Jamnagar today carrying 46,500 metric tonnes of liquefied petroleum gas. The ship-to-ship transfer to MT BW Birch is set to begin immediately.

Deendayal Port Authority Chairman Sushil Kumar Singh personally visited the vessel to ensure smooth operations. This arrival is crucial as global oil supplies face severe pressure from the ongoing conflict.

India has already deployed two warships near the Strait of Hormuz to protect merchant vessels and tankers carrying oil and gas to Indian ports. The move underlines New Delhi’s focus on securing energy routes.

Oil Prices Hit Record Highs Worldwide

Middle Eastern crude has become the world’s most expensive oil. Dubai crude soared to nearly $153 per barrel and Oman crude touched $148 – their highest levels ever. Analysts link the surge directly to fears of supply disruption through the Strait of Hormuz

Asian markets reacted quickly. West Texas Intermediate rose 1.95% to $95.32 and Brent gained 1.84% to $102.05 in early trade. Thailand is now in talks with Russia to buy oil, while Sri Lanka has cut government offices, schools and colleges to four days a week to save fuel.

China Steps In With Humanitarian Aid

China announced emergency humanitarian assistance to Iran, Lebanon, Jordan and Iraq. Foreign Ministry spokesman Lin Jian said the aid aims to ease suffering caused by the three-week conflict. Meanwhile, reports from Human Rights Activists News Agency (HRANA) claim nearly 4,765 people killed or injured in Iran so far, including 205 children, with 3.2 million displaced.

What This Means for India and the Region

The conflict is directly affecting daily life far beyond the Middle East. Fuel prices are expected to rise in India in the coming weeks. Households and industries should prepare for possible shortages and higher costs.

Experts monitoring the situation say the next few days will be critical. Any further closure or threat to the Strait of Hormuz could push oil prices even higher.

As missiles continue to fly and diplomatic efforts remain limited, the world watches closely. The safe docking of Nanda Devi offers a small but important reassurance for India’s energy security in these uncertain times.

US President says focusing on air campaign as Tehran claims attacks across 12 nations including Israel; India gets 30-day waiver for Russian oil purchases amid Gulf turmoil

The intensifying US-Israel Iran war completed its seventh day on Friday with dramatic new developments as Tehran launched retaliatory strikes across a dozen countries while Washington confirmed sinking more than 30 Iranian vessels and ruled out any ground invasion.

US President Donald Trump dismissed the possibility of sending American troops into Iran, calling a ground campaign "a waste of time" in an interview with NBC News. "They've lost everything. They've lost their Navy. They've lost everything they can lose," Trump said, as the US military reported destroying a significant portion of Iran's naval capabilities.

Key developments on day seven

The conflict has expanded dramatically, with Iran claiming attacks across 12 countries including Israel, the United Arab Emirates, Qatar, Bahrain, Jordan, Iraq, Kuwait, Oman, Saudi Arabia, Cyprus, Syria and Azerbaijan. Saudi Arabia confirmed its air defence systems intercepted three ballistic missiles targeting the Prince Sultan Air Base early Friday.

Casualties and damage:

- Approximately 1,230 people killed in US-Israel strikes inside Iran

- Over 3,000 homes and 500 commercial centres damaged across Iran

- 14 medical and pharmaceutical centres hit in the bombardment

- Widespread power and water disruptions reported in several Iranian provinces

Israel claimed its forces destroyed around 300 Iranian missile launchers, while Iran said its strikes damaged about 20 US bases across Kuwait, Bahrain and the UAE.

Trump's message to Iran on leadership transition

In a striking interview with Axios, Trump asserted that Washington must play a role in selecting Iran's next Supreme Leader following the death of Ayatollah Ali Khamenei in a US strike on February 28.

Trump specifically rejected the possibility of Mojtaba Khamenei, the late leader's son, assuming the position, warning that continued hardline policies would lead to further confrontation. Iran's interim leadership council held its fourth meeting on Friday to discuss the succession process.

Energy markets in turmoil

Global crude oil prices climbed to approximately $84 per barrel as the conflict disrupted shipping through the strategic Strait of Hormuz, through which roughly one-fifth of the world's oil and gas shipments pass.

In a significant diplomatic move, the US Treasury Department issued a temporary 30-day waiver allowing India to continue purchasing Russian oil. Treasury Secretary Scott Bessent said the exemption would permit Indian refiners to buy Russian crude currently stranded at sea, citing disruptions in global energy markets.

The Philippines government announced it is considering a four-day work week and energy conservation measures as rising fuel prices pressure the import-dependent economy.

Regional fallout escalates

Qatari defence forces intercepted a drone targeting the Al-Udeid Air Base, the largest US military facility in the Middle East, while Bahrain reported Iranian strikes hit a hotel and residential buildings in Manama.

Israel carried out 26 airstrikes on Beirut's Dahieh suburbs overnight, targeting Hezbollah infrastructure. The IDF issued evacuation orders for approximately 500,000 residents in southern Beirut, triggering panic and mass displacement.

Meanwhile, the UK's first government-chartered evacuation flight landed at London Stansted Airport carrying British nationals from Muscat, with over 140,000 Britons registering for assistance.

International response

China is reportedly in talks with Iran to ensure safe passage for oil and gas shipments through the Strait of Hormuz, as hundreds of vessels remain stranded around the critical waterway.

India expressed condolences over Khamenei's death, with Foreign Secretary Vikram Misri signing the condolence book at Iran's New Delhi embassy. French President Emmanuel Macron called for an immediate ceasefire between Hezbollah and Israel, pledging military and humanitarian assistance to Lebanon.

The United States and South Korea are discussing the possible relocation of Patriot missile defence systems from the Korean Peninsula to support Middle East operations, according to South Korean Foreign Minister Cho Hyun.