New Delhi, June 19 -- Indian airlines are facing renewed pressure on profitability as escalating tensions in the Middle East threaten to push global crude oil prices to USD 100 per barrel, according to a report by Nuvama.

The report highlighted that the geopolitical rift, particularly the Israel-Iran standoff, could potentially lead to a closure of the Strait of Hormuz, a key global oil supply route responsible for about 15 per cent of total oil shipments.

Even a perceived 30 per cent risk of closure has already nudged oil prices closer to USD 85 per barrel, and further escalation could push it to USD 100.

It stated, "Geopolitical headwind for Indian carriers... The Israel-Iran tensions could cause oil prices to spike USD100/bbl due to...