India, Jan. 23 -- India can no longer treat geopolitical shocks in oil markets as temporary disruptions, Union petroleum and natural gas minister Hardeep Singh Puri said, warning that price volatility driven by conflicts, sanctions and trade measures has become a structural feature of the global energy system.

Speaking with reporters at the India Energy Week 2026 curtain raiser conference, Puri said despite adequate global supply, crude prices remain vulnerable to political flashpoints in West Asia, disruptions to shipping routes and unilateral policy actions by major economies, particularly the United States.

For a country that imports over 85 per cent of its crude oil, such instability poses sustained risks to macroeconomic stability,...