The U.S.-Israel war on Iran has roiled global energy and equities markets, sending oil prices skyrocketing after Tehran virtually closed the key Strait of Hormuz. | Photo Credit: AFP Amid a global crude oil crisis triggered by the Iran war and the closure of the Strait of Hormuz, India is likely to have lapped up most of the increased crude oil shipments from Venezuela and Russia. According to BIMCO, one of the world’s largest shipping associations, global crude shipments fell 16% after the war began compared with the first nine weeks of the year. Published – April 15, 2026 09:06 pm IST Share this: Click to share on WhatsApp (Opens in new window) WhatsApp Click to share on Facebook (Opens in new window) Facebook Click to share on Threads (Opens in new window) Threads Click to share on X (Opens in new window) X Click to share on Telegram (Opens in new window) Telegram Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to email a link to a friend (Opens in new window) Email More Click to print (Opens in new window) Print Click to share on Reddit (Opens in new window) Reddit Click to share on Tumblr (Opens in new window) Tumblr Click to share on Pocket (Opens in new window) Pocket Click to share on Mastodon (Opens in new window) Mastodon Click to share on Nextdoor (Opens in new window) Nextdoor Click to share on Bluesky (Opens in new window) Bluesky Like this:Like Loading... Post navigation Season 2 of Prime Video’s ‘Sapne vs Everyone’ gets release date Peak electricity demand crosses 6,000 MW for the first time in Kerala