Oil prices surge amid war

The ongoing war in the Middle East has sent shockwaves through global energy markets, with Brent crude surpassing the $110 mark following new threats from Washington.

Saudi Arabia responded to the instability by raising its Arab Light crude prices to record levels, reflecting the severe risk to supply through the Strait of Hormuz.

India and other major importers are scrambling to secure alternative supplies as shipping lanes remain contested and insurance costs skyrocket.

Analysts warn that a prolonged closure of the waterway could lead to a permanent rewiring of global energy security.