Threat of supply disruptions rising but India has enough stock: Officials

India has enough crude reserves and is boosting imports from other sources even as the Strait of Hormuz faces risk of disruption due to the escalating Iran-Israel conflict

Iranian Parliament’s move to block the crucial Strait of Hormuz threatens to disrupt crude oil and gas supplies from the Persian Gulf, but India has sufficient inventories and is preparing to increase purchases from alternative sources, officials said. The government is monitoring the situation closely, they added.

 

In an unprecedented step, Iran’s Parliament voted on Sunday, allowing emergency measures to block the narrow, strategic waterway, state media reported. However, the final decision rests with the country’s Supreme National Security Council.

 

“The situation is highly fluid,” said a senior official at the Ministry of Petroleum. “The impact of the war on