After the war erupted in West Asia, the US and Israel targeted Iran’s infrastructure. Tehran retaliated by striking key facilities and targeting ships crossing the Strait of Hormuz, causing oil supply disruptions. The key question now is whether the US will force Iran to reopen the strait?

Can US force Iran to reopen the Strait of Hormuz? Here are three real options: Check inside

Top Indian government officials are actively addressing energy security concerns following the escalation of the conflict in West Asia, with External Affairs Minister S. Jaishankar and Petroleum Minister Hardeep Singh Puri leading efforts to assure stability in oil and gas supplies amid the ongoing Iran-Israel/US tensions as of March 2026. While global oil prices have surged above USD 100 per barrel, Indian officials have stated there is "no shortage of energy in India" and are monitoring the situation closely. 


West Asia Conflict: Indian Govt Top Officials Address Energy Concerns Amid War in Iran

Nigeria is facing a new fuel market controversy after authorities suspended import licences for several major oil companies to prioritise domestic gasoline supply. Officials say permits will only be issued if local production falls short under national energy laws.

The move comes as gasoline prices surge in Nigeria due to the ripple effects of the ongoing West Asia conflict, which has pushed global oil prices higher. Authorities say the policy aims to strengthen domestic refining and reduce reliance on foreign fuel imports.

Global Oil Crisis | Nigeria: Row Over Import Gasoline Licence

The U.S. blockade of Venezuelan oil exports continues as U.S. forces seized the oil tanker Olina in the Caribbean Sea in a pre‑dawn operation. The vessel, previously sanctioned and linked to embargoed oil shipments, is the fifth tanker boarded in Washington’s intensified campaign to curb Venezuelan crude shipments amid ongoing tension over sanctions and regional strategy.


U.S. Continues Venezuelan Oil Blockade With ‘Olina’ Tanker Seizure

Venezuela Oil Crisis: U.S. Blockade Continues as Tanker ‘Olina’ Is Captured

Our past often determines our present circumstances. The ongoing turmoil in West Asia bears testimony to it. As the Israel-Hamas war continues, market watchers are worried about the conflict's cascading effect on oil prices and the global economy.

Flashback Friday: 50 years later, the impact of 1973 oil crisis continues to be felt

Oil and gasoline prices are climbing. Energy company profits are surging. President Joe Biden, who came into office promising to reduce the use of fossil fuels, has effectively joined the “drill, baby drill” chorus.

Why US oil companies aren’t riding to Europe’s rescue

Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation.

Sri Lanka receives urgent $500 million loan from India to pay for oil

Saudi Arabia is going through a crisis this year. The Kingdom is witnessing shrinking economy, budgets have been cut, their oil tankers are being targeted, and has suffered four terror attacks in the past month.

Saudi Arabia carries out royal purge despite economic crisis, pandemic

A Venezuelan vessel, is at risk of spilling millions of gallons of oil in the Gulf of Paria in the Caribbean Sea, raising environmental concerns for the region.

Tilting oil tanker on brink of sinking; Oil crisis unfolding in Gulf of Paria

oil-crisis

Oil Crisis, News on Oil Crisis, stories on Oil Crisis, articles on Oil Crisis, Oil Crisis stories at Wion, Oil Crisis news, Oil Crisis latest news