India currently has sufficient energy buffers even as geopolitical tensions escalate in West Asia, government sources told ET Now. The country has 25-30 days of LPG stock and adequate LNG supplies, offering near-term comfort. However, crude oil prices could surge past $82 per barrel if the conflict continues for another 10-15 days, raising concerns over inflation and the import bill, said sources.
Sources said that only 40 per cent of cargo is currently moving through the Strait of Hormuz and there is a temporary pause in supply.
Some countries have shut their production facilities as a precautionary measure. However, keeping them permanently shut is not in their interest, according to sources.
Government sources told ET Now that there is no need to panic, as India currently has 25 days of crude stock along with an additional 25 days of product stock. The country has sufficient LNG availability to meet domestic requirements. Oil marketing companies (OMCs) are well prepared to safeguard consumer interests.
Death toll across Iran rises to 787
At least 787 people have been killed across Iran in airstrikes by the United States and Israel since the start of the war, state media reported, citing the Iranian Red Crescent on Tuesday. The Iranian Red Crescent shares the death toll in a message on X.
Indian Embassy in Iran issues advisory
India on Tuesday advised its nationals in Iran to exercise utmost caution and remain indoors as far as possible as the security situation in the Persian Gulf nation deteriorated in view of fresh military strikes by the US and Israel.
“In view of the developing situation, all Indian nationals in Iran are advised to exercise utmost caution, avoid unnecessary movements and remain indoors as far as possible,” the Indian embassy in Tehran said in a fresh advisory.
“Indians may also continue to monitor the news, maintain situational awareness and await any further guidance from the Embassy of India,” it said. Around 9,000 Indians, including students, are learnt to be stuck in Iran.
Thousands take to the streets over killing of 150 schoolgirls in Iran,
Meanwhile, Iranian state media Press TV reported that thousands of people took to the streets today in a solemn funeral procession after over 150 schoolgirls were killed in Iran on Saturday following US-Israeli strikes in the country.
Visuals shared by Press TV showed a sea of people protesting against the killing of innocent young students who perished in the missile strike.
In a post on X, Press TV said, “Another perspective of the funeral procession for the martyrs of the US and Israeli regime’s terrorist attack on Minab Elementary School.”
In another post it added, “A huge crowd of people is attending the funeral procession for over 165 innocent Iranian schoolgirls who were killed by the US and Israel on Saturday.”
Over 150 were killed in a strike on a girls’ school on the first day of the U.S. and Israeli attacks on Iran on Saturday. The reported strike took place on a girls’ elementary school in the town of Minab in southern Iran, marking the deadliest incident in the U.S. and Israel’s war against Iran.
