Global Oil Shock Deepens As Iran War Shuts Gulf Supply Lines
The world is staring at its biggest oil shock in history. With depots, tankers and terminals ablaze across the Middle East, crude has rocketed past $110-$119, and nearly a fifth of global supply has collapsed. The Strait of Hormuz is squeezed, production is down, and oil companies are hit. For India - which imports 90% of its crude and holds only about 50 days of reserves - the crisis is real and immediate. As New Delhi activates its emergency fuel plan, tonight's debate asks: Who will stabilise oil prices? And what does this expanding Gulf war mean for every household, every market, every economy?
