Overview
- Modi, addressing Parliament on Monday, said India is diversifying oil and LPG sources, boosting local LPG output, and using 5.3 million tonnes of strategic oil reserves to steady supplies.
- The Cabinet Committee on Security, which met Sunday evening, reviewed oil, gas, power and fertiliser needs and directed a daily inter‑ministerial effort to protect logistics and distribution.
- The Strait of Hormuz remains largely shut to commercial traffic, though limited passages have resumed, with two Indian‑flagged LPG carriers clearing the route and two more now in transit.
- President Trump announced a five‑day pause in strikes on Sunday after reported talks in Riyadh, sending Brent crude down about 12%, but Iran denies any direct negotiations and shipping remains disrupted.
- Households and businesses are feeling the strain as LPG shortages force restaurant closures and slow factories, while markets have slid about 10% this month with $11.8 billion in foreign outflows and a weaker rupee.