Oil shortage, price spike & more: How Hormuz blockade is hitting India and global markets

Apr 13, 2026 - 15:30
Oil shortage, price spike & more: How Hormuz blockade is hitting India and global markets

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Global markets are in turmoil following President Trump's announcement of a naval blockade in the Strait of Hormuz. This move has sent crude oil prices soaring and threatens to isolate Iran, potentially triggering further escalation. India faces significant economic challenges, including a ballooning energy import bill and disruptions to its exports and workforce remittances.

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