Story highlights
- The ongoing political tensions in West Asia are affecting global oil markets.
- International trading houses are on high alert due to the security situation in the Strait of Hormuz.
- Economists are warning that disruptions in oil supplies could push prices higher.
The ongoing political tensions in West Asia are affecting global oil markets. International trading houses are on high alert due to the security situation in the Strait of Hormuz. Economists are warning that disruptions in oil supplies could push prices higher. Analysts say this could have a greater impact on import-dependent countries like India. Global markets are closely monitoring the situation.
