New Delhi, March 11 -- The world is looking at a major fuel crisis triggered by the escalating conflict in West Asia involving Iran, Israel, and the United States. The disruption of the shipping through the Strait of Hormuz, which in normal times accounts for around 20 per cent of global oil and Liquified Natural Gas (LNG) transit, and the Israeli strikes on Iran's oil infrastructure have caused a sudden spike in prices around the world.

As the US-Iran conflict is into its 12th day, with no clear path in sight for an immediate de-escalation, countries around the world are waking up to the reality of significant disruptions to life as normal.

Six years after COVID-19 forced the world to work from home, the fuel crisis is forcing many cou...