Restoring the global energy system to pre-conflict levels will take months even if the Strait of Hormuz reopens, significantly impacting energy-dependent economies like India.
Iran has warned of changes to the Strait of Hormuz, a key oil route, amid tensions, impacting India's energy security.
President Trump has indicated that the U.S. war in Iran could end within weeks and suggested a possible exit from NATO over allies' perceived lack of support, while stating that the closure of the Strait of Hormuz would become a problem for others to solve.
President Trump announced that Iran will permit more oil ships to pass through the Strait of Hormuz, describing it as a "sign of respect." This development occurs as the conflict between Israel and Iran continues into its second month.