The Hindu

Watch: War in West Asia: What happens to Indias oil, gas and fertilizer supply? | Business Matters

Brent crude oil prices spiked nearly 30% on Monday, jumping close to $120 a barrel - from around $70 just days earlier - before settling lower the next day. The surge follows Iran hardening its stance and the United States vowing stronger strikes. What could this mean for global crude oil prices, and more importantly, for Indias oil, LNG, LPG and fertilizer supplies with the Strait of Hormuz now all but closed?