• India has secured its near-term crude oil and LPG supplies, reducing the immediate impact of the renewed Strait of Hormuz closure.

• Iran closed the Strait of Hormuz on July 11 following renewed military tensions with the US, raising concerns over global energy supplies.

• While energy prices are expected to rise, India’s supply outlook is stronger than during the earlier phase of the conflict.

• India has already secured crude oil supplies until August and tied up LPG imports, with only limited concerns over LNG supplies.

• Experts expect the renewed disruption to increase the risk premium on crude oil by $10-15 per barrel, pushing prices to around $80-85 per barrel.

• Brent crude rose to around $79 per barrel, its highest level since June 19, following the renewed tensions.

• India’s diversified sourcing strategy and increased non-OPEC oil production globally are expected to provide greater supply flexibility.

• According to the Petroleum Ministry, India currently holds 60 days of crude oil reserves, 60 days of LNG inventories, and 45 days of LPG stocks.

• The government has not announced any immediate reversal of relaxed LPG and natural gas supply measures despite the latest escalation.

• Experts emphasized the need to further diversify India’s energy sources, strengthen domestic energy security, and accelerate transport electrification and biofuel adoption to reduce dependence on imported fossil fuels.