Energy Expert Taneja Says Crude May Rise To $80 Briefly, Expects Middle East Tensions To Stabilise

Amid escalating tensions in West Asia, India has launched a high-level diplomatic effort to safeguard its energy interests and push for peace. Prime Minister Narendra Modi spoke with Sheikh Mohamed bin Zayed Al Nahyan of the United Arab Emirates, stressing the importance of stability in the Strait of Hormuz. With nearly a fifth of the world’s oil passing through this route, any disruption could have global consequences. India has also engaged Iran directly, ensuring safe transit for key shipments. External Affairs Minister S Jaishankar and the Ministry of External Affairs have reiterated the focus on dialogue, de-escalation and safe passage for Indian assets. As tensions involving Israel and the United States persist, India’s approach reflects a careful balance between diplomacy and national interest in a volatile geopolitical landscape.