US-Israel-Iran conflict: India well stocked to tackle Middle East disruption, says minister Hardeep Singh Puri

Hardeep Singh Puri, Minister of Petroleum and Natural Gas, on Tuesday said India is adequately stocked with crude oil and key petroleum products — including petrol, diesel and ATF — to manage any short-term disruptions arising from the Middle East crisis.

Following the outbreak of hostilities in the region and the evolving global energy landscape, the minister highlighted that India is the world’s third-largest crude importer, fourth-largest refiner, and fifth-largest exporter of petroleum products.

He said India has safeguarded both the availability and affordability of energy by diversifying supply sources. Indian energy companies now have access to cargoes that do not transit through the Strait of Hormuz. These alternative supplies will remain available and help offset any disruptions to shipments routed through the strait.

The ministry has set up a 24×7 Control Room to continuously monitor petroleum product supply and stock levels nationwide. Puri said at present, the government is reasonably comfortable with inventory levels. "Protecting the interests of Indian consumers remains the top priority. Based on ongoing assessments, the government is cautiously optimistic and prepared to implement phased measures if required," he said.

What the minister said earlier

Last month, Puri informed the Rajya Sabha that India’s strategic petroleum reserves can meet demand for up to 74 days in the event of global turbulence.

“We assess our reserves not only in underground caverns but also in our refineries,” he said, noting that storage caverns are operational in Andhra Pradesh and Karnataka, with expansion planned in Odisha.

Oil supply concerns

Concerns over a potential energy shock intensified after Iran moved to shut the Strait of Hormuz, a crucial maritime chokepoint that handles nearly one-fifth of global oil trade.

The situation escalated when Ebrahim Jabbari, advisor to the chief commander of the Islamic Revolutionary Guard Corps (IRGC), announced that the strait had been closed.

“Anyone who wants to pass will be destroyed by fire by our heroic and devoted forces,” Jabbari warned.

Iran had earlier announced its intent to close the strait following US-Israel air strikes that reportedly killed Supreme Leader Ayatollah Ali Khamenei and several senior military leaders during a high-level meeting.

Crude traffic through the strait has since slowed sharply. From a normal daily movement of over 100 vessels, only three tankers crossed on Sunday, and just one on Monday. At least six ships, including oil tankers, were reportedly struck while attempting passage.

Jabbari further warned of decisive action against vessels attempting to enter the region and threatened to target energy infrastructure.

Currently, more than 700 tankers are stranded on both sides of the Strait of Hormuz, heightening concerns of a prolonged supply disruption and increased volatility in global energy markets.