Oil Shock Risks Rise as Hormuz Uncertainty Persists: Former Diplomat Anil Trigunayat

• Former diplomat Anil Trigunayat warns of prolonged West Asia conflict, risking global trade and energy flows.
• Uncertainty around the Strait of Hormuz could keep oil prices elevated, impacting economies worldwide.
• India faces “double jeopardy” of higher oil prices and currency pressure despite diversifying energy sources.
• A shift to controlled or fee-based maritime access could raise long-term costs, making the global economic outlook fragile.
• Iran believes it is making the conflict costly for the US, Israel, and the global economy, with no clear US exit strategy.