Iran Closes Hormuz Strait: India's Oil Supply at Risk, What Are the Options?

• Iran has closed the Strait of Hormuz, threatening ships, impacting India's crude oil imports.
• India imports approximately 2.5 million barrels of crude oil daily via the Hormuz route, half its total daily imports.
• India possesses crude oil reserves sufficient for 40-45 days, including 100 million barrels of commercial stock.
• The closure could spike oil prices; Brent crude has already crossed $80 per barrel.
• India can explore alternative supplies from West Africa, Latin America, the US, and Russia to mitigate the shortfall.