India, June 22 -- As tensions continue to rise in the Middle East, raising the likelihood of Iran closing the Strait of Hormuz, India is closely monitoring global oil trends.

Union minister for petroleum and natural gas, Hardeep Singh Puri, has reiterated that India has adequate oil supplies to meet its needs.

"We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks," Puri said in a post X. The Union minister noted that India has "diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now."

Puri said that the nation's oil marketing companies have several weeks' worth of supply, adding that they "continue to receiv...