Bengaluru, March 10 -- Former Karnataka Chief Minister Basavaraj Bommai on Tuesday said the global energy supply situation, including disruptions linked to the ongoing tensions in West Asia, was expected to stabilise soon and normal operations could be back in place by next week.
Bommai said the disruptions were largely triggered by developments involving Iran and the United States under Donald Trump, particularly after tensions escalated around the crucial oil transit route of the Strait of Hormuz. He noted that the temporary disruption of shipments through the Strait of Hormuz had pushed crude oil prices to around USD85 per barrel, with fears that prices could surge further if the situation prolonged.
"Due to the developments in West As...