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Impact of Iran War on Crude Oil Transit (mbd)
Comparison of daily oil transit through critical waterways before and after the conflict started.
Primary Sources
The Iran war has exposed how heavily countries depend on oil and ...
14 hours ago ... Use the threat of sanctions to nudge India and even more delicately, China into trimming Iran's oil revenue. Russia Moscow treats the region as a revenue stream ...
How the Iran war is disrupting India's steel production
India's supply of crude oil, liquefied natural gas and liquefied petroleum gas is vulnerable to geopolitical disruption like the Iran war.Steelmaking companies are already starting to see fuel shortages, shipping disruptions and rising input costs impact operations.India's steel sector must strengthen domestic energy, scrap and iron ore security, while reducing exposure to fragile trade routes.India imports a large share of its crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) through a region that remains vulnerable to geopolitical disruption, with its energy security heavily exposed to instability in the Middle East and critical shipping routes such as the Strait of Hormuz. That risk is now shifting into the steel sector as well, where fuel shortages, shipping disruptions and rising input costs have started to affect operations.Impact of the Iran war on India's steelmaking sectorThe fuel disruption is not limited to one part of steelmaking. LNG shortages are affecting gas-based ironmaking operations, while LPG shortages are disrupting stainless-steel processes.India’s small steelmakers, who are dependent on LNG, have been facing production cuts as supplies tighten due to the conflict. Some producers warned that output could be cut sharply if fuel supplies do not normalize.Energy security risk of metallurgical coal as freight cost risesThe ongoing conflict has once again highlighted a major energy security risk for India’s steel sector: its heavy dependence on imported metallurgical (met) coal, also known as coking coal. India imports about 90% of its met coal requirements, mostly from Australia, exposing steelmakers to global supply and price volatility. The market was already volatile, and the current conflict is now making that dependence even riskier.Australian premium hard coking coal prices in January 2026 hit a 17-month high, as heavy rains and flooding in Queensland disrupted mining operations. As Australia dominates the global met coal supply, this event reflected supply disruption and stronger price pressure worldwide. Moreover, as the Iran war started to worsen, global coking coal prices rose again in the second half of March, adding to cost pressure on steelmakers.It is worth noting that this is the second time in four years that a military conflict has caused a fossil fuel crisis. The Russian invasion of Ukraine saw coal prices surge sharply, reducing Indian steelmakers’ operating margins by about five percentage points...
US renews sanctions waiver for purchase of Russian oil amid Iran war ...
US renews sanctions waiver for purchase of Russian oil amid Iran war - What does it mean for India? Treasury Secretary Scott Bessent had also claimed on Wednesday night that nations transacting ...
Fuel rations and free buses: How countries have responded to rising oil ...
The war in Iran and the effective closure of the Strait of Hormuz - through which around 20% of the world's oil and natural gas flows - has seen rising fuel costs across the globe.
