Petroleum and Natural Gas Minister Hardeep Singh Puri has assured that India's crude oil supply will not be affected by the ongoing Iran-Israel conflict. He said the country has enough oil reserves to meet its needs. The minister also mentioned that the government is keeping a close watch on the situation in West Asia and is regularly reviewing any possible impact on global oil prices.

Meanwhile, government sources said that the current oil supply situation is 'mostly normal' and there are no issues in transporting oil from the region at the moment. They added that India has enough oil in reserve and has already diversified its imports by sourcing crude from around 40 different countries.

One official said that while India currently has enough oil in stock, the situation could get worse if the Strait of Hormuz is closed. Blocking this key route would hurt everyone, the source explained, adding that any disruption in supply could lead to a sharp rise in oil prices.

If the Iran-Israel conflict continues for a long time, it could disrupt the trade of crude oil and natural gas in West Asia – especially if Iran, a Shia-majority country, decides to block the Strait of Hormuz. This narrow waterway is crucial, as it carries about 20% of the world’s crude oil and 25% of global liquefied natural gas (LNG) shipments.

India depends heavily on energy imports, bringing in about 90% of its crude oil and 50% of its liquefied natural gas (LNG). A large part of this -- over 40% of crude oil and nearly half of LNG -- comes from West Asia. If the conflict in the region gets worse, it could disrupt these supplies and cause prices to rise.

India also exports diesel to Europe. If the Strait of Hormuz is blocked, ships will have to take a longer route around the Cape of Good Hope. This will increase travel time by about two weeks and raise shipping costs.