New Delhi, March 2 -- International crude oil prices surged on Monday with the escalating conflict in West Asia also putting Indian energy markets and oil companies on edge. Experts warn that sustained disruptions will keep prices elevated and tighten LNG availability, underscoring the urgent need for strategic planning to protect India's energy security.
According to Sehul Bhatt, Director of Crisil Intelligence, developments in West Asia have significantly increased pricing and procurement risks for crude oil and liquefied natural gas (LNG). This poses a critical challenge for India, which relies on imports for over 85% of its crude oil and 50% of its LNG requirements. Given the critical role of energy across sectors, Bhatt noted that cor...