The International Energy Agency says the Iran US Israel conflict could trigger the worst energy crisis in history. It warns the disruption in maritime traffic through the Strait of Hormuz is already constraining global oil and LNG flows, compounding a tense oil and gas situation tied to Russia. The knock-on effect could quickly ripple into prices and supply.
Market veteran Pashupati Advani says India’s rally may be fragile, pointing to unresolved risks like disruptions around the Strait of Hormuz that could affect oil and LNG imports. He also flags a near-term LPG crunch and growing pressure on IT jobs, citing visa curbs, AI disruption, and stagnant hiring—calling it a potential earnings shock.
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India’s crude oil buffers may cushion the economy from an Iran-Israel fallout, helped by diversified crude imports that reduce Hormuz-linked risk. But the bigger immediate threat is gas: Qatar’s LNG production halt, India’s largest gas supply source, is already forcing cuts in industrial supplies, raising pressure on key sectors.
The IEA warns that global LNG markets will stay tight until 2027 as Middle East conflict disrupts supply and pushes back new capacity. Shipping disruptions have removed nearly 20% of LNG supplies, driving price spikes. With Europe reducing gas demand and Asia shifting fuels, further delays in Qatar’s infrastructure could deepen supply shortfalls.
GAIL has flagged off its LNG carrier Energy Fidelity from the US, with a capacity of 174,000 cubic meters. The vessel departed on April 20 and is now en route to India. The flag-off ceremony in Houston, Texas was presided over by India’s Consul General D C Manjunath, underscoring efforts to strengthen India’s energy supply chain.
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