SENSEX
NIFTY
GOLD
USD/INR

Weather

image 30    C

Economy News

The Economic Times

Economy / The Economic Times

details

World faces largest-ever oil supply disruption on Middle East war, IEA says

The ongoing turmoil in the Middle East has triggered an unprecedented crisis in oil supply, with projections indicating a staggering drop of eight million barrels per day. This crisis stems from the closure of the vital Strait of Hormuz, which has prompted Gulf nations to curtail their oil output dramatically.

12 Mar 2026 3:01 pm