US media: Indian Prime Minister Modi called Iranian President Pezeshkian within hours after Iran's new supreme leader vowed to block the Strait of Hormuz, marking Modi's first call to Iran since the outbreak of the Middle East war.
As the world's third-largest oil importer and second-largest liquefied petroleum gas (LPG) consumer, India relies on the strait for about 50% of its crude oil needs, with most LPG imports passing through it.
Currently, 28 ships carrying nearly 800 Indian crew members are trapped in the strait, and there is a rush to purchase LPG domestically. The government has allowed the catering industry to use kerosene and other alternative fuels.
Citigroup expects that if oil prices remain between $90-100 per barrel, India's inflation will rise by 50 basis points. India is urgently purchasing crude oil from over 40 countries, and in March, its oil imports from Russia increased to 1.46 million barrels per day. However, analysts point out that India cannot restructure its energy supply chain in the short term.
Original article: toutiao.com/article/1859560933614600/
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