If Iran’s crude oil supply gets disrupted by 0.5 to 1 million barrels per day, it could lead to global crude oil prices surging by 5 to 10 dollars per barrel in the medium term.

Paint manufacturers such as Asian Paints, Berger Paints, and Kansai Nerolac source around 50% of their raw materials from crude-based derivatives like resins and solvents. These input costs are highly sensitive to crude fluctuations.

Tensions between Israel and Iran have raised fears of disruption in the Strait of Hormuz, a vital route for global oil and LNG. Experts warn that even the threat of closure could rattle markets and push energy prices sharply higher.

Israel and Iran continue to fire a volley of missiles and drones at one another, targeting energy infrastructure as well as residential areas. The conflict, which has killed over 220 people so far since Friday (June 13),

Iran-Israel conflict disrupts global trade, impacting India's exports. Increased freight rates and uncertainties threaten Red Sea and Strait of Hormuz routes.

The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

Nigeria would witness a surge in the price of petrol, diesel, jet fuel, gas and related products in the near term.

Oil futures jumped as the market reopened Sunday night, building on last week’s surge after Israel attacked Iranian energy facilities over the weekend and underlining fears around potential disruption to Middle Eastern crude flows.